Small-cap penny stock hits 5% upper circuit after CAPEX expansion move
- Ok Play India shares have failed to deliver any significant returns in the past one year. The small-cap stock has risen by just over 4% in one month and over 2% in six months.
Ok Play India share price was locked at 5% upper circuit of ₹16.68 apiece on the BSE Tuesday after the company announced completion of expansion. Ok Play India is a small-cap toy manufacturing company listed on BSE.
Ok Play India said that the company has now completed its expansion program with the addition of Blow and Injection molding machines along with the balancing equipment and moulds etc. at its manufacturing facility located in Haryana.
“This capacity enhancement is expected to result in an increase in the production capacity of toys, playground equipment and children furniture by over 300%, thereby strengthening our ability to meet the growing market demand and improve operational efficiencies,” Ok Play India said in a BSE filing on January 7.
The existing capacity of the company is approximately 300 MT per annum utilization at 80%. The proposed capacity addition is 900 MT per annum and the implementation of the expansion project started in July 2024 and has now been completed, as per the company statement.
The total investment for the expansion is ₹46 crore and 75% of the total cost has been financed by Indian Overseas Bank.
Ok Play India Stock Price Trend
Ok Play India shares have rallied 45% in one month and 27% in one year. In the past two years, Ok Play India share price has delivered multibagger returns of over 263%. The small-cap stock has jumped by a staggering 1,000% in five years.
Ok Play India stock price hit a 52-week high of ₹21.50 apiece on the BSE on February 23, 2024, and touched a 52-week low of ₹10.62 apiece on November 18, 2024.
At 11:50 AM, Ok Play India shares were still locked at 5% upper circuit at ₹16.68 apiece on the BSE.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
- Top Gainers
- Top Losers
- 52 Week High