It was expected ahead of the Federal Reserve meeting that begins January 25 and smart investors were ready for this. Yet a market fall of this size always makes everyone nervous. And to top it all it has been happening since fifth straight sessions. Continued selling by FIIs took the energy out from the first day of the week and market lost almost three percent when the Sensex was down 1,545 points at 57,491.51 and the Nifty plunged 468 points at 17,149.
However Rasandik Engineering Industries India Ltd. (BSE 522207) attracted investor’s attention with not only its sharp up move last week but remaining unaffected from the bloodbath on the street.
Moving in the range of Rs 88-100 from August to December it got wings in January and closed at Rs 165 on January 21, 2022.
And even on Monday the stock was having a field day.
Remember it was not the best period in the markets.
We feel following developments could answer our curiosity –
- Because the real theme these days is EV and having been in the Auto Components sector with 5 plants this company has an edge over others.
- With an equity of 5.97 crore it has a reserves of Rs 92.35 crore.
- With a Book Value of Rs 155 in an era where futuristic announcements about proposed foray in EV takes MCap to 1000s crore, Rasandik Engineering is real EV story with Market Cap of just Rs 103 crore.
- Recently Rasandik Engineering has launched Electronic Vehicle EAuto in 7 variants: E-Auto Samrat D+6 (Driver plus 6 passenger capacity); E-Auto Samrat D+3 (Driver plus 3 passengers seating with luggage carrying capacity); E-Auto Samrat Loader: Plugging intra-city transportation; E-Auto Samrat Mobile Shop and E-Auto Samrat Hi-Deck: Carrier for milk, water bottle, Bread, Bakery Poultry products, Gas cylinders, a Vegetable Van, an Ice cream Van, a Fast food Van, and much more; E-Auto Samrat Garbage Manual and E-Auto Samrat Garbage Hydraulic: Garbage truck is specifically designed to collect municipal waste
- Rasandik’s growth has been impressive. The company supplies Tailored Welding Blanks, Engineering Solutions, Press Tools and Dies, BIW Welding Jigs & Fixtures, Fuel Tanks, Exhaust Systems, Motorcycle Frames, Sheet Metal Body Stampings, Sub-Assemblies, Suaspension Parts and Skin Panels to many leading OEMs. Rasandik’s customers include Maruti, Tata, Honda, M&M, General Motors and Fiat India amongst others.