125 per cent returns in this penny stock: This multibagger micro-cap company receives order worth Rs 2.38 crore from Airport Authority of India!
The stock gave multibagger returns of 125 per cent in just 1 year.
Abhishek Integrations Limited informed that the company received a work order for the operation and maintenance additional/ alteration works of E&M installations including CMC of ACs & water coolers/ purifiers at Bagdogra Airport for 2 years (2023-25) having a total contract value of Rs 2.38 crore (including GST) by Airport Authority of India (AAI).
Earlier, the company received a contract for electrical & mechanical installations at the new terminal building, water supply system, operation of conveyor system & supply of electrical spares at Vadodara Airport (For a 2-year period) (The years 2023-24 & 2024-25) having total contract value of Rs. 1.87 crores (including GST).
Additionally, the Board of Directors of the company announced bonus shares in the ratio of 1:1 for its equity shareholders as of the record date. The shares ceased to trade cum-bonus on July 19, 2023, which was the record date for the bonus issue.
Abhishek Integrations Limited is in the business of developing, maintaining & operating Airports and allied businesses. On Friday, shares of Abhishek Integrations plunged 0.30 per cent to Rs 33.25 per share from its previous closing of Rs 33.35. The stock has a 52-week high of Rs 40.6 and a 52-week low of Rs 14.1.
According to the financials, the company has a market cap of 20 crore. The net sales increased by 74.50 per cent to Rs 13.76 crore and net profit increased by 53.64 per cent to Rs 0.34 crore in H2FY23 over H2FY22. The net sales increased by 70.26 per cent to Rs 22.55 crore and net profit increased by 34.06 per cent to Rs 0.67 crore in FY23 over FY22.
The promotors of the company hold a 67.70 per cent stake in the company and the rest is owned by the general public which is 32.30 per cent as of March 2023. The stock gave multibagger returns of 125 per cent in just 1 year. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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