Multibagger penny stock at Rs 22: This electrical equipment company bags new orders worth Rs 40,00,00,000 in West Bengal
The stock gave multibagger returns of 258 per cent in 6 months and a whopping 557 per cent in 1 year.
Today, the stock market was in green with the BSE Sensex Index up 0.32 per cent at a level of 72,050.38. About 2,329 shares have advanced, 1,536 declined, and 73 are unchanged on the BSE.
Along with the market in green, one of the Top Gainers on BSE, shares Marsons Ltd hit 2 per cent upper circuit to Rs 21.73 per share from its previous closing of Rs 21.31. The stock’s 52-week high of Rs 21.76 per share while its 52-week low is Rs 3.13.
Marsons Ltd informed that the company has secured orders worth nearly Rs 40,00,00,000 as part of the 1st phase of the ROSS scheme in West Bengal. This has taken the total current order book to Rs 55 crore with an execution timeline up to June 2024.
The company had shifted focus for the last 6-9 months towards securing necessary fresh approvals/accreditations and setting up the base for rapid expansion of the Marsons brand in the next financial year. In anticipation of the tremendous demand especially driven by the nationwide ROSS scheme. The company has fully operationalised its manufacturing facility and built a formidable team driven by experienced professionals.
Marsons Ltd, founded in 1976, reigns as the leading power transformer manufacturer in Eastern India, crafting distribution and power transformers (10 kVA to 160 MVA, 220 kV), furnace transformers, dry type transformers, and diverse special application ones. They handle everything from manufacturing and supplying to erecting, testing, and commissioning these transformers, with over 3 lakh powering lives worldwide.
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The client base of the company includes State Electricity Boards and Power Utilities in various Indian states such as Rajasthan, West Bengal, Assam, Madhya Pradesh, Andhra Pradesh, Maharashtra, Jharkhand, Chhattisgarh, Bihar, Orissa, Manipur, Meghalaya, Uttar Pradesh, Uttaranchal, Tamil Nadu, and Kerala. Additionally, the company serves overseas clients including Castle Cement UK, Yesu PLC Ethiopia, Teklec Dubai, Bowers Electricals Ltd UK, Alarabia Co Jordan, Tokai Power Products Limited Bangladesh, and Gapuma U.K.
It also collaborates with notable corporates like ABB, Alstom T & D, Schneider Electric, GE Electric, CESC, DPL, North Eastern Cable & Conductors, Techno Electric & Engineering, Siemens, Bhel, L & T, Tata Group of Companies, Reliance Group, Prakash Industries, Bharti Airtel, Bhushan Steel, KEI, KEC, Avartanah, Sterling & Wilson, NTPC, Punj Lloyd, and Bajaj Electricals.
Marsons has a market cap of over Rs 300 per share and has a 5-year stock price CAGR of 84 per cent. The stock gave multibagger returns of 258 per cent in 6 months and a whopping 557 per cent in 1 year. 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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