Multibagger penny stock under Rs 60: This micro-cap construction company bags a new order worth Rs 7,15,00,000 from Tata Power Solar Systems!

Shares of the company gained more than 50 per cent in the six months.

HEC Infra Projects Limited has secured a contract worth Rs 7.15 crores from Tata Power Solar Systems Limited for the complete design, engineering, procurement, construction, and commissioning (EPC) of a 66kV transmission line within the Radhanpur project. This marks a significant development for HEC Infra, solidifying its position in the renewable energy sector.

HEC Infra Projects Limited has also delivered multibagger returns to its shareholders in less than three years. During this period, the company’s share price jumped from Rs 21.35 on April 08, 2021, to Rs 56.25 on December 08, 2023, an increase of more than 150 per cent in less than a three-year holding period.

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In the recent quarter Q2FY24, the revenue of the company stood at Rs 15.27 crore which grew by 72.89 per cent YoY. The operating profit of the company stood at Rs 1.40 crore, while the PAT of the company stood at Rs 0.64 crore, which increased by 184.96 per cent YoY.

HEC is an EPC contractor and provides SITC services to multiple governments and private entities. HEC is a registered ‘Class A’ EPC contractor with the Roads and Building Department of the Government of Gujarat and a Class-1 registered contractor with the Central Public Works Department (CPWD). It has also been awarded a contractor license from GETCO.

Investors should keep a close eye on this stock.

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