Stock under Rs 10: Watch out for this penny stock locked in upper circuit post receiving a Rs 24.69 crore order!

Shares of this company gained more than 40 per cent in one month.

Shares of Sharika Enterprises were locked in the upper circuit today. On Friday, the company received a new purchase order for the supply of 48F OPGW and an optical unit from LS Cables India Private Limited. The order is worth Rs 24.69 crore. The order is expected to be executed in the next six months.

In the recent quarter Q3FY23, the revenue increased by 91.76 per cent staying at Rs 17.86 crore. While the company at the bottom-line level incurred a loss of Rs 0.08 crore.

Sharika Enterprises operate in the infrastructure sphere in India focusing on the power sector and working with international and Indian power equipment manufacturers and involved in project management and EPC contractors.

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Today, the stock opened at Rs 7.15, with a high and low of Rs 7.80 and Rs 7. The stock previously closed at Rs 6.50. Today, the stock closed trading at Rs 7.80, up by 20 per cent.  

The stock has a 52-week high of Rs 14.80 and a 52-week low of Rs 7. The company has a ROCE of 4.24 per cent with a market capitalisation of Rs 33.8 crore.