Multibagger civil construction stock to keep under the radar as Board announces stock split from Rs 10 to Rs 5
The stock gave multibagger returns of 293.2 per cent from its 52-week low of Rs 42.51 per share.
On Wednesday, shares of Conart Engineers Ltd surged 3.60 per cent to an intraday high of Rs 181.50 per share from its previous closing of Rs 175.25 per share. The stock gave multibagger returns of 293.2 per cent from its 52-week low of Rs 42.51 per share. At the closing bell, the shares of the company were trading at Rs 167.15 per share, down 4.62 per cent.
At the 50th Annual General Meeting of Conart Engineers Limited, the shareholders approved a resolution to subdivide (stock split) the company's equity shares. The current face value of Rs 10 each dividend in 2 equity shares having a face value of Rs 5 each. This means that existing shareholders will receive two new shares for every one they currently hold, without affecting the overall value of their investment.
Additionally, the company has secured two significant projects in Vadodara. They have been awarded a Rs 7 crore contract to construct civil work at the Bundy India Limited facility, which is expected to be completed in six months. Furthermore, the company has bagged a Rs 14.50 crore contract to build a formulation facility for Apothecon Pharmaceuticals Private Limited. This project will encompass the entire construction of the facility and is anticipated to be finished within eleven months from the start of on-site mobilization.
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Conart Engineers Ltd., a renowned engineering firm established in 1973, specializes in providing comprehensive general contracting and project management services. With a strong track record spanning decades, Conart has successfully executed numerous complex projects across various industries. Their expertise lies in cost monitoring, schedule management, subcontractor coordination, field engineering, safety assurance, and quality control.
Beyond general contracting, Conart also offers design-built and turnkey services. This allows them to take on projects from inception to completion, ensuring seamless integration of design, construction, and management. Their turnkey services extend to real estate investing, finance, and development, providing clients with a one-stop solution for their projects. Additionally, Conart's project management services encompass master planning, bid phase support, cost estimating, CPM scheduling, change order evaluation, project cost controls, safety management, quality inspections, technology services, and constructability reviews.
Investors should keep an eye on this civil construction stock.
Disclaimer: The article is for informational purposes only and not investment advice.