Ashish Kacholia’s portfolio multibagger penny stock at Rs 25 successful commissions order worth Rs 382.14 crore from Khavda to Bhuj

The stock gave multibagger returns of 250 per cent from its 52-week low of Rs 5.87 per share.

Jyoti Structures Limited successfully completed a high-voltage transmission line project from Khavda to Bhuj, marking a significant achievement in India's power infrastructure. The project involved building a 765 KV, double circuit line with special Hexa Bundle conductors, the highest voltage rating for transmission lines in the country with a contract value of Rs 382.14 crore, including GST. Jyoti Structures handled the entire project lifecycle, including optimizing the route, designing five different tower types for a high-wind zone, crafting foundations suited to the specific locations, strengthening the soil, testing prototype towers, manufacturing over 17,000 tons of towers, supplying insulators and other line materials, and constructing the entire line from foundations to conductor stringing. Notably, all the complex engineering design work was done by Jyoti Structures themselves.

The company leveraged its manufacturing unit in Nasik and its tower testing facility in Ghoti to execute this prestigious project. Jyoti Structures brings a strong track record to the table, having manufactured over 15 million tons of towers in the past, constructed over 31,000 kilometres of transmission lines, and built substations up to 765 KV capacity. They have even played a role in electrifying over 37,000 villages in India. With their expertise and the current high demand in the power transmission and distribution sector, Jyoti Structures is well-positioned to capitalize on future opportunities.

Earlier, the company completed a comprehensive project for Mundra Port and Special Economic Zone Limited (MPSEZL) that included designing, manufacturing, supplying, and installing all aspects of three transmission lines. This project, with a contract value of Rs 39.04 crore, involved surveying the land, investigating soil conditions, laying foundations, erecting towers, stringing lines, and commissioning each transmission line. Additionally, Jyoti Structures was awarded the Mundra Megaproject, where they designed, supplied, erected, and commissioned both 400 kV and 220 kV transmission lines on a turnkey basis.

Also Read: Artificial Intelligence (AI) revolutionizing healthcare: A look at the present and future!

Furthermore, Jyoti Structures Ltd announced a rights issue of up to 11,64,20,710 new equity shares with a face value of Rs 2 each for a total of Rs 17,463.11 lakh (assuming full subscription). The rights issue is offered at Rs 15 per share (including a premium of Rs 13) to existing shareholders on the record date of March 21, 2024 in the ratio of 6 new shares for every 37 shares held. Investors will need to pay the full price of Rs 15 per share upfront. The issue opened for application on Monday, April 15, 2024 and closes on Monday, April 29, 2024. 

On Friday, shares of Jyoti Structures Limited plunged 3.99 per cent to Rs 22.36 per share from its previous closing of Rs 23.29 with an intraday high of Rs 23 and an intraday low of Rs 22.13. The stock’s 52-week high is Rs 34.08 per share while its 52-week low is Rs 5.87 per share. An Indian ace investor, Ashish Kacholia has expressed confidence in the future of a stock by purchasing 1,80,00,000 warrants for Rs 13.20 each, at a total cost of Rs 23.76 crore.

Jyoti Structures Limited was incorporated in 1974. The company is engaged in electricity, transmission, distribution and substation. The registered office of the company is in Mumbai. Jyoti Structures Ltd has a market capitalization of over Rs 1,800 crore. The stock gave multibagger returns of 250 per cent from its 52-week low of Rs 5.87 per share. Investors should keep an eye on this micro-cap stock.

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