900 per cent returns: This multibagger electric company bags new order worth Rs 112.83 crore; Board announces bonus shares!

Shares of this company have gained more than 250 per cent in the last six months.

RMC Switchgears Limited informed in the exchange filing that the company in Joint Venture with Continental Petroleums Limited has received an order for the supply of plant and installation including a civil contract covering the inter-alia supply of plant, installation and civil on FOR (Final place of destination) including design, engineering, manufacture, testing, transportation, insurance etc. and other services incidental thereto, for the value of Rs. 112.83 cores required for the complete execution at Satara Circle under Baramati Zone of MSEDCL, Maharashtra State, under RDSS.

Recently, the board of the company considered the proposal for the issue of bonus shares to the equity shareholders of the company in a ratio of 2:1 subject to the approval of shareholders in the ensuing Annual General Meeting.

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Furthermore, the company recently entered into a Memorandum of Understanding (MoU) with Radius Synergies International Private Limited. The primary aim of the collaboration is to foster knowledge sharing and capacity building in the Electricity Distribution and Energy Sector.

RMC Switchgears Limited has delivered multibagger returns to its shareholders in the last one year. During this period, shares of RMC Switchgears surged from Rs 71.10 on September 19, 2022, to Rs 763.45 on September 15, 2023, an increase of about 970 per cent in one year holding period.

RMC Switchgears is primarily engaged in the business of designing and manufacturing enclosures of energy meters, LT/HT distribution boxes and panels, junction boxes, feeder pillars and other power distribution and circuit protection switchgear.

Disclaimer: The article is for informational purposes only and not investment advice.