Multibagger penny stock under Rs 80: This industrial product company bags multiple orders worth USD 11,98,255.06!

Shares of this company jumped more than 60 per cent in the last six months.

Marine Electricals (India) Limited informed in the exchange filing that the company has secured new order worth USD 11,98,255.06 (Rs. 9.97 crore approx) from Goa Shipyard Limited, Vasco–Da-Gama Goa. The order is received for the supply of Integrated Platform Management System (IPMS) for PCV project Yard 1267 & 1268. The order is to be completed within 9 months.

Shares of Marine Electricals (India) Limited have also delivered multibagger returns to their shareholders in the last one year. During this period, the company’s share price jumped from Rs 33.50 on October 31, 2022, to Rs 76.85 on October 31, 2023, an increase of about 130 per cent in a one-year holding period.

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Marine Electricals (India) Limited is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions.

On Tuesday, the stock opened at Rs 79.00, with a high and low of Rs 79.45 and Rs 75.70. The stock closed trading at 77.25, down by 0.06 per cent. The stock has a 52-week high of Rs 80.10 and a 52-week low of Rs 28.00. The company has a ROCE of 16.0 per cent and an ROE of 11.0 per cent. The company has a market capitalisation of Rs 971 crore.

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.