13,000 per cent multibagger returns: Small-cap stock in green as company bags new order of 30 Bhungas from Tourism Corporation of Gujarat Ltd
In 3 years, the stock is up by 640 and a whopping 13,000 per cent in 5 years.
Praveg Limited has secured a significant contract from the Tourism Corporation of Gujarat Limited (TCGL) to operate, maintain, and manage 30 Bhungas located in Dhordo, Gujarat. This contract, awarded on September 17, 2024, marks a significant expansion for the Company, complementing its existing 46 tents. The addition of these 30 Bhungas aims to provide guests with a wider range of accommodation options, enhancing their overall experience. The contract is a domestic order, with a duration of five years.
On Thursday, the shares of Praveg Ltd gained 2.83 per cent to an intraday high of Rs 830 per share from its previous closing of Rs 807.15 per share. The stock’s 52-week high is Rs 1,300 and its 52-week low is Rs 480.
Praveg Ltd, a leading advertising company, was established in 2016 through the merger of Praveg Communications Limited and Sword and Shield Pharma Limited. With a strong focus on exhibition and event management, the company has expanded its services to include hospitality, publications, and real estate marketing. Praveg has a significant presence both domestically and internationally, with branches strategically located across various regions.
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Over the years, Praveg has built a solid reputation for its expertise in tourism, hospitality, and event management. With over two decades of experience in the industry, the company has successfully executed numerous projects and garnered a loyal client base. Recent developments in FY24 include the commencement of operations at Tent City in Light House Beach, Daman, and the acquisition of several contracts for tent city development and management in various locations across India. This growth reflects Praveg's commitment to innovation and expansion in the tourism and hospitality sectors.
Praveg Ltd has a market cap of over Rs 2,000 crore and has been maintaining a healthy dividend payout of 47.6 per cent. The stock gave multibagger returns of 240 per cent in just 2 years whereas BSE Sensex Index is up by 41.3 per cent. In 3 years, the stock is up by 640 and a whopping 13,000 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.