Penny Stock Bags 2nd Order From BPCL In 3-Days, Shares Skyrocket 285% In 2024

Small cap company East India Drums and Barrels Manufacturing Ltd today informed via its BSE filing about receiving an order from Bharat Petroleum Corporation Ltd (BPCL). This is the 2nd order that the company bagged from BPCL in a span of just 3-days. Last trading price of East India Drums and Barrels Manufacturing shares on BSE is Rs 6.02 per share. The stock has been place under trading restriction on account of IBC/ Recommencement post IBC. East India Drums and Barrels Manufacturing shares offered stunning returns in last 6 months with gain of 178%. Check details below:

East India Drums and Barrels Manufacturing Bags Order From BPCL: As per the exchange filing of East India Drums and Barrels Manufacturing dated October 30, "With reference to the query raised by Bombay Stock Exchange Ltd. for the said Company Update, we would like to inform you that Order was received on 12.06.2024. But the order is considered to be accepted on the above date only after executing Performance Bank Guarantee in favour of the client.

Considering the above, we hereby update the stakeholders that the Company has bagged an order from Bharat Petroleum Corporation Ltd. for their Wadilube Plant and CLube for supply of 1,38,000 nos 210 MS Barrels and value of Rs.23.36 crores."

The company on October 28 also informed receiving an order from BPCL. It said, "East India Drums & Barrels Mfg Ltd. has bagged an order from Bharat Petroleum Corporation Ltd. for their Loni Plant for supply of 1,02,000 nos 210 MS Barrels and value Rs.18.82 crores. The supplies for the same to start from 2nd week of November, 2024.

Order Book: The current Order book from PSU Oil Companies i.e. Indian Oil Corporation Ltd., Bharat Petroleum Corporation Ltd., Hindustan Petroleum Corporation Ltd., amounts to Rs.381.53 crores which are to be fulfilled by 2025-2026.

East India Drums and Barrels Manufacturing Shares Performance: The 52-week high price of East India Drums and Barrels Manufacturing shares on BSE is Rs 6.02 per share and 52-week low price is Rs 1.47 per share. The company's market capitalisation is Rs 8.89 crore. East India Drums shares gained 61% in last 30-days, soared 285% year-to-date, soared 288% in last 1-year, and jumped 600% in last 2-years.

About: East India Drums & Barrels Mfg. Ltd. (EIDBL) is a MSME Unit. Since its inception in 2013, East India Drums & Barrels Mfg. Ltd. has been industry's most reliable drums and barrels suppliers to PSU Oil Companies viz. Indian Oil Corporation Ltd., Bharat Petroleum Corporation Ltd., Hindustan Petroleum Corporation Ltd., and leading blue-chip Companies like Huber Group, Flint Group, DIC India Ltd., Sakata INX, Coromandel International, UPL etc. EIDBL has an in-house technology and product development centers and engaged in producing innovative work for design of new products. EIDBL manufactures various capacity of MS Barrels/Drums as per customers choice for packaging of POL, Additives, Chemical, Food and Fruit Products paint and ink industries etc.