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Containe Technologies Stock Hits All-Time High

21 November 20233 mins read by Angel One
In recent developments, the company has received approval for the registration of the Vehicle Location Tracking (VLT) Devices
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Today, the shares of Containe Technologies Limited soared 5%. What makes it intriguing is that the stock reached an all-time high of Rs 101.43 apiece on BSE. Furthermore, the scrip witnessed a spurt in volume by more than 1.69 times. The company’s current market capitalization is Rs 63.33 crore.

With a price below Rs 150, Containe Technologies presents an affordable investment opportunity for investors interested in the industrial products sector. This affordability factor may attract investors looking to diversify their portfolio at a reasonable cost.

On November 16, 2023, Nageshwarrao Srikrishna Duvvuri was involved in a stock market transaction, conducting a classified sell deal. The transaction encompassed the sale of 100,000 shares at a rate of Rs 96.84 per share.

In recent developments, the company has received approval for the registration of the Vehicle Location Tracking (VLT) Devices, specifically Model No: TRPRO 140, for utilization in the State of Odisha. This endorsement was granted by the Office of the Transport Commissioner-Cum-State Transport Authority, Odisha, based in Cuttack, for the purpose of registering the VLT device and its empanelment with the Transport department of the Government of Odisha.

About Company:

Established in 2008, Containe Technologies Limited (CTPL) operates within the realm of Automobile Safety and GPS solutions in the Automobile Sector. The company specializes in the production of a diverse array of technology-intensive electronic and mechanical automotive products.

The revenue distribution for the company’s products in the specified period is as follows: the majority share is attributed to Speed Limiting Devices, accounting for 80.06%. Vehicle Location Tracking contributes 18.18%, while the remaining 1.76% is classified under the category of others.

Additionally, in terms of customer segmentation, the company caters predominantly to the private sector, constituting 83.33% of its customer base. The government sector comprises the remaining 16.67% of the customer segment.

Furthermore, the stock has witnessed significant buying activity as it has given multibagger returns of more than 141% in just 1 year.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.

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