KRN Heat Exchanger and Refrigeration’s stock rose 8% to hit a 52-week high, despite market weaknesses, driven by strong business updates and an investment by ace investor Mukul Mahavir Agrawal. The company specializes in HVAC&R products and has seen significant growth since its IPO.
In a surprising turn of events, KRN Heat Exchanger and Refrigeration, a small-cap stock based in India, saw its share price rise more than 8%, reaching a 52-week high of ₹899.50 despite the broader market trend being weak on January 21, 2025. This remarkable rise in stock price came following several positive developments concerning the company, including strategic updates and an influential investor’s recent stake acquisition.
KRN Heat Exchanger and Refrigeration, headquartered in India, specializes in manufacturing fins and tube-type heat exchangers, primarily catering to the HVAC&R (Heating, Ventilation, Air Conditioning, and Refrigeration) industry. The company produces a range of products, including copper and aluminum fins, copper tubes, heat exchangers, water coils, condenser coils, and evaporator coils, which are widely used in domestic, commercial, and industrial applications. KRN has a strong customer base, including many leading cooling product manufacturers in India, and also exports its products to developed markets worldwide.
The company announced that its Board of Directors would meet on January 27, 2025, to review and approve the unaudited standalone and consolidated financial results for the quarter and nine months ending December 31, 2024. Investors are eagerly awaiting this financial update to gain further insight into the company’s performance.
In a noteworthy development, ace investor Mukul Mahavir Agrawal also acquired a 1.61% stake in KRN Heat Exchanger and Refrigeration during the December 2024 quarter, buying 10,00,000 shares. This move is seen as a vote of confidence in the company’s growth prospects.
Despite a tough market environment, KRN Heat Exchanger and Refrigeration’s performance has caught the attention of both retail and institutional investors. Since its initial public offering, the company’s stock has delivered nearly four times the returns, turning it into a multibagger stock.
As of now, KRN’s market performance stands out as an anomaly in a generally bearish market, leaving many investors wondering if the stock still holds potential for growth in the upcoming quarters. With its robust business operations, increasing stakeholder interest, and upcoming financial results, KRN Heat Exchanger and Refrigeration could remain an attractive option for long-term investors looking for opportunities in the small-cap sector.
