2,750 per cent returns: This construction company receives order worth Rs 300 crore!

In Q3FY23, net profit skyrocketed 1085 per cent compared to Q3FY22.

On Friday, one of the Top Gainers on BSE, shares of K&R Rail Engineering zoomed 5 per cent upper circuit to Rs 542.90 per share from its previous closing of Rs 517.09. The stock also traded at a new 52-week high of Rs 542.90 per share. The stock is hitting back-to-back upper circuits and 52-week highs in the recent trading sessions.

K&R Rail Engineering Ltd informed the exchange that the company has received a work order, from J K Cement Limited for the design and survey work of a railway siding project at Muddapur in Bagalkot District of Karnataka State valued at more than Rs 300 crore.

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K&R Rail Engineering Ltd is engaged in carrying on the business of laying private railway sidings on a turnkey basis. The shares of the company saw a spurt in volume by more than 2.20 times on BSE.

The company reported positive numbers in its Quarterly Results and annual results. In Q3FY23, net profit skyrocketed 1085 per cent compared to Q3FY22.

The stock gave multibagger returns of 2,750 per cent from its 52-week low of Rs 19.05 per share whereas BSE Small-cap Index is just up by 19 per cent. Investors should keep an eye on this stock in the upcoming sessions.