Multibagger Heavy Electrical Equipment Company Bags New Order of Rs 14,94,90,000 From India Oil Corporation Ltd, Panipat Refinery
The stock gave multibagger returns of 172 per cent from its 52-week low is Rs 44 per share.
Jyoti Limited's Switchgear Division has secured a significant order worth Rs 14,94,90,000 (including GST) from Indian Oil Corporation Limited, Panipat. This order, awarded through the Government e-Marketplace (GeM) portal, entails the supply, installation, testing, and commissioning of high-voltage (6.6 kV and 11 kV) switchgear panels. Key terms of the contract include inclusive packing, forwarding, freight, and insurance, with an 18% GST rate. The project is slated for completion by May 4, 2025, and is a domestic order awarded by a domestic entity.
Earlier, the company secured two significant orders. The first, worth Rs 1,616.48 lakh, is from Karan Development Services Pvt Limited for the design, manufacture, and installation of 11 pumps for the Handia Barrage project in Madhya Pradesh. This project, valued at Rs 850 lakh, involves the refurbishment and replacement of critical components in the Mannapitlu Mini Hydel Plant in Karnataka for Soham Mannapitlu Power Private Limited.
On Wednesday, shares of Jyoti Ltd gained 0.80 per cent to Rs 119.75 per share from its previous closing of Rs 118.80 per share. The stock gave multibagger returns of 172 per cent from its 52-week low is Rs 44 per share.
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Jyoti Ltd offers hydraulic and electrical products and services and designs and manufactures a wide range of Pumps and EPC Pumping Systems from concept to commissioning. The company is comprised of 2 divisions viz. project division and the switchgear division.
Jyoti Ltd has a market cap of over Rs 200 crore and has delivered good profit growth of 32.1 per cent CAGR over the last 5 years. The stock gave multibagger returns of 160 per cent in just 1 year and a whopping 1,900 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.