50 per cent returns from its 52-week low: This micro-cap company receives orders worth Rs 8,45,00,000 from Office of the Chief Engineer!
The stock is up by 50 per cent from its 52-week low of Rs 83.86 per share.
Mahindra EPC Irrigation Ltd (MEIL) is part of the Mahindra Group of companies informed that the company has been awarded new orders from the Office of the Executive Engineer. Here are the details:
Order No – 1: The company has been awarded three contracts for the supply of pressurized micro irrigation systems for 1225 HA from the Office of the Asst. Engineer, Water User Association. The order is worth Rs 6,00,00,00 and will be completed within 4 months from LOI.
Order No – 2: The company has been awarded three contracts for the supply of pressurized micro irrigation systems for 19 HA from the Office of the Asst. Engineer, Micro Irrigation Programme. The order is worth Rs 2,45,00,00 and will be completed within 12 months from LOI.
Mahindra EPC Irrigation Ltd is engaged in the business of manufacturing and selling Irrigation systems. The solutions provided by the company through micro-irrigation systems help in sustainable agriculture.
Talking about the finances, MEIL has a market cap of Rs 334.54 crore. The net sales stood at Rs 57.74 crore, up 120 per cent in Q2FY24 compared to Q2FY23. The company reported a net loss of Rs 0.57 crore in Q2FY24 compared to a net loss of Rs 8.26 crore in Q2FY23.
According to the shareholding pattern, the promotors of the company (Mahindra & Mahindra Ltd) own a 54.26 per cent stake, FIIs own 0.13 per cent and the rest 43.61 per cent stake is owned by the general public.
Today, shares of MEIL plunged 0.42 per cent to Rs 119.85 per share with an intraday high of Rs 125.8 and an intraday low of Rs 119.1. The stock’s 52-week high is Rs 133.85 and its 52-week low is Rs 83.86. The shares of the company saw a spurt in volume by more than 1.07 times on BSE.
The stock is up by 50 per cent from its 52-week low of Rs 83.86 per share. 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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