Multibagger stock under Rs 45 to keep under radar as company commissions 2 solar power projects at Modinagar, Uttar Pradesh
The stock gave multibagger returns of 127 per cent from its 52-week low of Rs 18.85 per share.
SBEC Systems (India) Ltd announces the successful commissioning and operation of two solar power projects on October 1, 2024. These projects include a 270 KWp installation at Dayawati Modi Public School (a unit of OCT) in Hapur Road, Modinagar, Uttar Pradesh, and a 10 KWp installation at Modi Hospital (a unit of OCT) located at A-5, Railway Road, Modinagar, Uttar Pradesh.
Earlier, the company successfully commissioned a 675 kilowatt-peak (KWp) solar power project located at Modi Arc Electrode Company, Modi Industries Compound, Delhi Meerut Road, Modinagar-201204, Uttar Pradesh. This announcement is made following Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The project is operational as of July 16, 2024.
SBEC Systems (India) Ltd, established in 1987, is an engineering and consultancy company that caters to the sugar and power industries. They offer a wide range of services including scientific and technical consultations, designing and planning for various projects and fabrication, erection, and commissioning of those projects. Additionally, they provide high-tech equipment specifically suited for the sugar and power industries.
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On Tuesday, shares of SBEC Systems (India) Ltd gained 0.40 per cent to 42.82 per share from its previous closing of Rs 42.99. The stock’s 52-week high is Rs 59.15 and its 52-week low is Rs 18.85.
The company has a market cap of Rs 42.82 crore and reported positive numbers in its Quarterly Results (Q1FY24) and its annual results (FY24). A 51 per cent stake is owned by the promoters and the remaining 49 per cent stake is owned by the public shareholders. The stock gave multibagger returns of 127 per cent from its 52-week low of Rs 18.85 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.