Ashish Kacholia gains Rs 4,83,00,000 in just 1 day from this multibagger stock with Rs 604 crore order book; Company bags new order worth Rs 66.38 crore!
The stock is up by 60 per cent in 1 year and gave multibagger returns of 1,180 per cent in 2 years.
Knowledge Marine & Engineering Works Ltd (KMEW), informed that Knowledge Dredging Co. W.L.L., Bahrain (Subsidiary Company of KMEW) has received a Letter of Intent (LOI) from Nass Corporation B.S.C. for the work of supply and sale of dredged marine sand for an amount of 3.01 million Bahraini Dinar (approx. equivalent to Rs 66.38 crore, using an exchange rate of 1 BD = Rs. 220.44) for a period of 5 years. The work shall commence from Q3 of FY 2023-2024.
This signifies the company's attainment of the sixth contract for the supply of dredged marine sand in Bahrain. Having successfully secured six contracts, the company has established an order book totalling TRs 450 crore for the upcoming five years and has added another significant achievement to its portfolio. This achievement highlights the robust demand in the Bahraini economy, driven by a notable upswing in both real estate activities and associated infrastructure development.
Knowledge Marine & Engineering Works Ltd is primarily engaged in the business of owning, chartering/ hiring along with manning, operation and technical maintenance of marine crafts and repairs/ maintenance of marine crafts and marine infrastructure and allied works in India. The company has a market cap of Rs 1,491.25 crore. As of November 2023, the company’s order book stands at Rs 604 crore.
An ace investor, Ashish Kacholia, holds the highest public stake in the company, owning 3,00,000 shares or 2.78 per cent as of September 2023. In just one day, his portfolio gains by Rs 4,83,00,000 from this multibagger stock.
Today, shares of Knowledge Marine & Engineering Works gained 141.6 points or 11.42 per cent to Rs 1,381 per share with an intraday high of Rs 1,415 and an intraday low of Rs 1,242.
The stock is up by 60 per cent in 1 year and gave multibagger returns of 1,180 per cent in 2 years. 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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