Shares of Affordable Robotic & Automation hit a 52-week high of Rs 829 on the BSE on Monday. Affordable Robotic & Automation’s stock price rose 19 percent intraday today, extending Friday’s gains amid heavy volumes. Over the past two days, shares of the industrial products company have risen 31 percent. Affordable Robotic & Automation shares had touched an all-time high of Rs 864 on August 28, 2023.
At 2.39 pm, Affordable Robotic & Automation’s share price was trading 15 per cent higher at Rs 801.30, compared to a 0.78 per cent rise in the BSE Sensex. The average trading volume on the counter today increased almost fourfold, with 159,000 shares changing hands on the BSE. In the past two weeks, an average of less than 40,000 shares were traded on the counter, according to data from the BSE stock exchange.
Currently, the stock trades under the small and medium enterprises (SME) group on the BSE.
During the two-day rally, shares of Affordable Robotic & Automation are trading 875 percent higher than their issue price of Rs 85 per share. The company debuted on the Indian stock market on June 4, 2018.
Ace investor Vijay Kedia owned 1.2 million shares or a 9.93 percent stake in Affordable Robotic & Automation at the end of March 2024. The company has not yet released the stock pattern data for the June or September 2024 quarter.
Meanwhile, Affordable Robotic & Automation informed the BSE on September 26, 2024 that the company has received an in-principle approval from the National Stock Exchange of India Limited (NSE) for migration of trading of the company’s shares from the SME Platform (EMERGE) to the NSE Board of Directors. The company will apply for final approval for the migration in due course, it added. READ MORE
Earlier, on August 28, the company said it has received an in-principle approval from the BSE for the migration of trading of the company’s shares from the SME platform (EMERGE) to the main board of BSE. The company further said that it will apply for final approval for the migration in due course. READ MORE
Affordable Robotic & Automation primarily provides automation solutions for welding lines using robotics and related design services. It also offers material handling automation services and has focused on automated parking systems.
ARAPL RaaS, a subsidiary of Affordable Robotic and Automation, is a technology company specializing in robotic and warehouse automation. ARAPL RaaS uses AI and machine learning to automate every aspect of their service. ARAPL RaaS has applied for 6 patents, developed 5 proprietary software and several algorithms, which make its solutions future-proof.
In addition, by developing its own motors, drive and controller, the entire electric powertrain will deliver a huge cost and technology advantage by mid-2024. Fungible and adaptable to changing consumer demand patterns, ARAPL RaaS solutions can help its customers improve labor productivity by up to 400 percent while saving 30 percent on rental costs. Their autonomous robots enable Lights-Off operations without human assistance, the company said.
First publication: October 14, 2024 | 3:10 PM IST