Multibagger defence stock jumps after company bags new orders worth Rs 12,93,00,000 from Cochin Shipyard Ltd & Adani Group
The stock gave multibagger returns of 174 per cent from its 52-week low of Rs 84.20 per share.
On Monday, shares of Marine Electricals (India) Limited gained 2.63 per cent to Rs 231.30 per share from its previous closing of Rs 225.07 with an intraday high of Rs 236.32 and an intraday low of Rs 227.10. The stock’s 52-week high is Rs 308 and its 52-week low is Rs 84.20.
Marine Electricals (India) Limited has received orders amounting to Rs 12.93crore (Excluding Taxes), the details of the same are mentioned as under:-
- Order received from Cochin Shipyard Limited, for supply of Base & Depot Spares for ASW & SWC Project. The Delivery shall be over a period of 8 Months.
- Order received from Kutch Copper Tubes Limited (Adani Group), for supply of LT Panel for Mundra Site Project. The Delivery shall be over a period of 4 Months.
About the Company
Marine Electricals (India) Limited is a leading provider of electrical automation and information technology solutions for the marine and industrial sectors. With over 40 years of experience, the company offers a comprehensive range of products and services, including switchgear, control gears, integrated platform management systems, power generation and distribution, marine lights, motors, NavCom solutions and low and medium-voltage power distribution solutions for various industries. Marine Electricals is committed to providing high-quality, reliable and innovative solutions while supporting the 'Make in India' initiative.
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The company has a market cap of Rs 3,187 crore and its order book stands at Rs 540 crore. In Q2FY25, FIIs increased their stake to 0.25 per cent compared to 0.15 per cent in June 2024. The stock gave multibagger returns of 174 per cent from its 52-week low of Rs 84.20 per share. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.