Multibagger penny stock under Rs 70: This micro-cap civil construction company bags new order worth Rs 2,40,00,000 from Larsen & Toubro Energy – Hydrocarbon!
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 30.30 per share.
On Friday, shares of Sonu Infratech Ltd gained 1.80 per cent to Rs 62.15 per share from its previous closing of Rs 61.05 per share with an intraday high of Rs 62.15 and an intraday low of Rs 62.
Sonu Infratech Ltd informed that the company received a new work order amounting to Rs 2,40,00,000 (approx.) from Larsen & Toubro Energy – Hydrocarbon for structuring, piping & mechanical construction works pertaining to Reliance Industries Ltd - new energy project - PV manufacturing facility, Jamnagar, Gujarat.
Earlier, the company received a new work order with modified terms, amounting to a revised SO Price of Rs 25.43 crore (approx.) which was originally received on June 15, 2022, which amounted to Rs 17.56 crore (approx.) from Mundra Petrochem Limited a wholly owned subsidiary of Adani Enterprises Ltd (AEL) for construction of labour colony for Green PVC project at village Vandh, Mundra, Gujarat
Sonu Infratech Limited provides construction contracting services. The company offers civil construction, structural painting, mechanical scaffolding, and project management and maintenance services. Sonu Infratech serves customers in India.
Talking about the financials, the company has a market cap of Rs 84 crore with a 1-year stock price CAGR of 80 per cent. According to its half-yearly results, the net sales decreased by 11 per cent to Rs 19.97 crore while net profit increased by 12 per cent to Rs 1.11 crore in H2FY23 compared to H2FY22. The net sales increased by 20 per cent to Rs 64.05 crore and the net profit increased by 56 per cent to Rs 2.73 crore in FY23 compared to FY22.
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 30.30 per share. 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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