2:1 Stock Split & Upper Circuit Alert: Multibagger Civil Construction Company Bags New Order Worth Rs 40,00,00,000 in Silvasa
The shares of the company saw a spurt in volume by more than 8.27 times on BSE.
On Wednesday, shares of Conart Engineers Ltd hit a 10 per cent upper circuit to Rs 180.30 per share from its previous closing of Rs 163.95 per share. The stock gave multibagger returns of 248 per cent from its 52-week low of Rs 52 per share. The shares of the company saw a spurt in volume by more than 8.27 times on BSE.
The company has received a prestigious order for the construction of a Factory Building, Plant, and Ancillary Structure for a woven sack and FIBC Plant at Silvasa. The project is valued at Rs 40 crore (excluding GST) and will be executed as a service for civil work. The project is expected to be completed within 15 months of mobilization at the site, which commenced on November 1, 2024.
Earlier, Conart Engineers Limited, the shareholders approved a resolution to subdivide (stock split) the company's equity shares. The current face value of Rs 10 each dividend in 2 equity shares having a face value of Rs 5 each. This means that existing shareholders will receive two new shares for every one they currently hold, without affecting the overall value of their investment.
DSIJ’s 'Multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
Conart Engineers Ltd., a seasoned engineering firm founded in 1973, is a trusted provider of comprehensive general contracting and project management solutions. With a proven track record spanning decade, Conart has successfully delivered numerous intricate projects across diverse industries. Their expertise encompasses cost monitoring, schedule management, subcontractor coordination, field engineering, safety assurance, and quality control. Beyond general contracting, Conart offers design-build and turnkey services, enabling them to undertake projects from inception to completion. Their turnkey services extend to real estate investing, finance, and development, providing clients with a one-stop solution. Additionally, Conart's project management services include master planning, bid phase support, cost estimating, CPM scheduling, change order evaluation, project cost controls, safety management, quality inspections, technology services, and constructability reviews.
Disclaimer: The article is for informational purposes only and not investment advice.