Multibagger penny stock under Rs 60: This micro-cap company have been awarded a contract by Jindal Group

The stock gave multibagger returns of 315 per cent in 1 year and a whopping 2,000 per cent in 3 years.

Trishakti Industries Limited announced that we have been awarded a contract by Jindal Ferrous Ltd (A part of Jindal Group). In this contract, we play a role in deploying entirely new heavy industrial equipment as a rental for a long-term contract.

This contract portrays the company’s capability to support major industrial projects PAN-India and this contract shall positively impact the company’s financial performance. This contract portrays the company’s vast expansion into this business and we hope to serve our clients with the best service possible. The company has furthermore planned to expand into this line of business and in this industry.

Today, shares of Trishakti Industries Ltd gained 2 per cent upper circuit to Rs 57.05 per share from its previous closing of Rs 55.94. The stock’s 52-week high is Rs 70.34 and its 52-week low is Rs 6.01 The shares of the company saw a spurt in volume by more than 5 times on BSE.

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Earlier, shares of the company ex-traded stock split/sub-division of equity shares of the company from the face value of Rs 10 to the face value of Rs 2 per share. The ex-date for the stock split was Tuesday, January 16, 2023. Furthermore, the company announced a major Rs 600 crore joint venture with PT Tubular Services Indonesian to build a cutting-edge seamless pipe plant. This strategic partnership, aiming to tap into rising demand for high-quality pipes, promises expanded operations, new product lines, enhanced market position, and significant shareholder value.

Trishakti Industries Limited provides infrastructure and Oil & gas exploration services. The company engages in multiple business sectors including logistics and infrastructure, oil and gas, food-related items, and agency services. Trishakti Industries serves customers worldwide.

The company has a market cap of Rs 84.74 crore with a 3-year stock price CAGR of 180 per cent. In its Quarterly Results and annual results, the company reported positive numbers. The stock gave multibagger returns of 315 per cent in 1 year and a whopping 2,000 per cent in 3 years.

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