Multibagger penny stock under Rs 60: The micro-cap stock bags new order worth Rs. 2,33,44,665.32 from Bharat Electronics!

Shares of the company have gained more than 160 per cent in the last one year.

Shares of NMS Global Limited were locked in the upper circuit on Wednesday, gaining 10.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit.

NMS Global Limited has secured a new work order worth Rs. 2,33,44,665.32 for the construction of a government higher primary school at K.E.B Colony in Raichur district. This project was awarded by Bharat Electronics Limited, a Government of India enterprise under the Ministry of Defence, based on a memorandum of understanding signed in September 2023. NMS Global will have 15 months to complete the construction work from the commencement date. This project win strengthens NMS Global's presence in the government infrastructure construction sector. The shares of NMS Global Limited have also delivered multibagger returns of over 160 per cent in the last one year.

The company posted weak Quarterly Results. The revenue of the company for Q4FY24 stood at Rs 6.76 crore which increased by 79.07 per cent YoY. The operating profit of the company stood at a loss of Rs 0.50 crore, and the PAT of the company stood at a loss of Rs 0.78 crore.

NMS Global Limited was into food processing and commodity supply sector and is currently engaged in contracting services like Civil Construction, Pre-Engineered Buildings, Skill Development, Financial Consultancy and Engineering Services. The company also provides exclusive supplies and marketing team for telecom provider companies.

The stock has shown tremendous growth, and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.