Shares of Gujarat Toolroom Limited hit a 5% upper circuit on 7 March after the company announced bagging an order worth Rs 29 crore.

In its regulatory filing, the company announced that they have received an order from Reliance Industries Limited for construction supplies for a total consideration of Rs 29 crore. The order marks the company’s first part of a promising collaboration between the company and Reliance.

This order is a testament to the trust and confidence in the company’s capabilities and expects more such orders from Reliance in the coming future.

The filing added, “GTL foresees additional orders from various clients in the upcoming months, which will further contribute to the company’s revenue and profit growth trajectory. This positive development highlights GTL’s commitment to excellence and customer satisfaction in the construction supplies sector.”

The shares hit a 52-week high of Rs 62.28 on 9 January 2024 and a 52-week low of Rs 8.92 on 6 April 2023.

At 1:11 pm, the shares of Gujarat Toolroom were trading 4.99% higher at Rs 59.99 on NSE.