Low PE penny stock under Rs 60: Back-to-back upper circuit in this micro-cap stock; receives orders worth Rs 21.27 crore from NHAI!

The stock is up by 30 per cent in just 6 months and over 70 per cent in 3 years.

On Thursday, one of the Top Gainers on BSE, shares of Artefact Projects Ltd zoomed 5 per cent to an intraday high of Rs 52.51 per share from its previous closing of Rs 50.01. At the closing bell, shares of the company ended the day in green, up 1.90 per cent to Rs 50.96 per share. In the recent trading sessions, the stock is hitting back-to-back upper circuits. The shares of the company saw a spurt in volume by more than 2.09 times on BSE.

The company received 1 order for consultancy services for independent engineering services for operation & maintenance from the National Highway Authority of India (NHAI). The order is worth Rs 6.57 crore and will be completed within 60 months from LOI. And another three projects from the National Highway Authority of India (NHAI) worth Rs. 14.7 crores. The company has signed the contract agreements and received the commencement letter for these projects which includes consultancy services for independent engineering services for operation & maintenance.

The Company’s order book of fees stands at Rs 220 crore approx. including orders bagged for 20 project assignments comprising contracted fees of approx. Rs 142 crore in the past year itself.

Artefact Projects Limited provides engineering and construction services for highways, urban infrastructure, and airports. Artefact Projects serves clients worldwide. The company reported positive numbers in its Quarterly Results and annual results. The company has a market cap of Rs 37.07 crore.

The shares of the company have a PE of 9.15x whereas the sectoral PE is 24x. The stock is up by 30 per cent in just 6 months and over 70 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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