Low PE penny stock under Rs 80: This micro-cap company receives orders worth Rs 4.09 crore from National Highway Authority of India (NHAI)
The stock is up by 73.25 per cent from its 52-week low of Rs 45.60 per share.
Artefact Projects Limited has secured a Rs 4.09 crore new order from the National Highways Authority of India (NHAI) to serve as an Independent Engineer for the construction of a 4-lane greenfield highway section between Mancherial and Warangal in Telangana. This 48-month project is part of the Nagpur-Vijayawada economic corridor under the Hybrid Annuity mode. The company has received the Letter of Award and expects to generate approximately Rs. 4.09 crores in revenue from this domestic project.
Earlier, Artefact Projects Limited secured a project valued at approximately Rs 4.66 crores from the Ministry of Road Transport and Highways. The company has been appointed as the Authority Engineer to oversee the rehabilitation and upgradation of a 28 km stretch of NH 353C in Gadchiroli district, Maharashtra. The project, to be executed in an EPC mode, has a duration of 84 months. The company has already received the Letter of Award for this domestic project.
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Incorporated in 1987, Artefact Projects Ltd is engaged in the project consultancy business in India. The company has a market cap of 56 crore and reported positive numbers in its Quarterly Results and annual results. The stock is trading at 0.95 times its book value.
On Thursday, shares of Artefact Projects Ltd zoomed 3.87 per cent to an intraday high of Rs 79 per share from its previous closing of Rs 76.06. The stock’s 52-week high is Rs 111 and its 52-week low is Rs 45.60.
The shares of the company have a PE of 10x whereas the industry PE is 33.5x. The stock is up by 73.25 per cent from its 52-week low of Rs 45.60 per share. 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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