1:1 Bonus Share: Heavy Electro-Mechanical Repair Bags New Order Worth Rs 2,94,00,000 From M.P Power Generating Co. Ltd
The stock is up by 23 per cent from its 52-week low of Rs 106.53 per share and has given multibagger returns of over 400 per cent in 3 years.
Evans Electric Ltd. has announced a material order of Rs 2.94 crore from M.P Power Generating Co. Ltd., for the refurbishment of universal wound rotor pole assembly & stator activities for 11KV, 105 MW which is considered material according to the company's disclosure policy. This domestic Supply & Works order, to be executed within 75 days, adheres to the disclosure requirements outlined in SEBI Circular no. CIR/CFD/CMD/4/2015 dated September 09, 2015.
Evans Electric Ltd, a stalwart in the Indian heavy electro-mechanical repair industry, has been a cornerstone since India's independence. Specializing in repairing and servicing electrical machines of all sizes and capacities, the company has become synonymous with quality and reliability. By providing exclusive and innovative repair, refurbishment and support services to diverse industries like power generation, distribution, manufacturing, and processing, Evans Electric has consistently met the evolving needs of the industry. The company's commitment to import substitution and in-house component development has not only saved significant foreign exchange but also positioned it as a leader in the field.
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The shares of the company ex-traded a bonus issue of equity shares in a 1:1 ratio, meaning shareholders will receive one additional share for every share they currently hold. The ex-date for bonus shares was Thursday, December 26, 2024.
On Thursday, shares of Evans Electric Ltd plunged 1 per cent to Rs 131 per share from its previous closing of Rs 132.30 per share. The stock’s 52-week high is Rs 251.90 and its 52-week low is Rs 106.53. The company has a market cap of Rs 72 crore with an ROE of 28 per cent and an ROCE of 36 per cent. The stock is up by 23 per cent from its 52-week low of Rs 106.53 per share and has given multibagger returns of over 400 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.