Penny stock below Rs 30: This micro-cap company bags new orders worth Rs 63,20,000 from Government of West Bengal

The stock is up by over 70 per cent from its 52-week low of Rs 12.3 per share.

Mehai Technologies Ltd inform you that your company has recently received very prestigious orders from Public Health Engineering Directorate, Government of West Bengal, AlIPOre Division for the below-mentioned projects:

Project 1

• A 250mm x 150mm diameter, 360-meter deep tubewell will be sunk in the Gosaba Water Supply Scheme (Zone-III) using the direct rotary rig method.
• PVC pipes and pre-packed resin-bonded gravel filters will be used.
• The project costs approximately Rs. 2.24 million and commenced on November 22, 2023, with a completion deadline of 30 days.

Project 2

• A 200mm x 150mm diameter, 360-meter deep tubewell will be sunk for the Augmentation of the Kachukhali Water Supply Scheme.
• Similar construction methods and materials (PVC pipes and pre-packed resin-bonded gravel filters) will be employed.
• The project costs approximately Rs. 2.04 million and commenced on November 22, 2023, with a completion deadline of 30 days.

Project 3

• A 200mm x 150mm diameter, 360-meter deep tubewell will be sunk for the Augmentation of the Amlamethi Water Supply Scheme.
• Construction methods and materials mirror Project 2.
• The project costs approximately Rs. 20,04,000 and commenced on November 22, 2023, with a completion deadline of 30 days.

These three initiatives aim to improve water access in Gosaba, West Bengal, by sinking deep tubewells and utilizing efficient technologies. All projects are expected to be completed within a month of commencement.

On Friday, shares of Mehai Technologies hit a 5 per cent upper circuit to Rs 21.08 per share from its previous closing of Rs 20.08. The stock has a 52week high of Rs 25.9 and a 52-week low of Rs 12.30. The shares of the company saw a spurt in volume by more than 1.71 times on BSE.

Mehai Technology Ltd manufactures and sells lighting products. The company offers LED bulbs, tube lights, and power banks. Mehai Technology also renders after-sale services.

According to the financials, Mehai Technologies has a market cap of Rs 22.58 crore. The company reported positive numbers in its Quarterly Results and annual results. The stock is up by per cent from its 52-week low of Rs 12.3 per share. In the recent trading sessions, the stock has hit back-to-back upper circuits.

The stock is up by over 70 per cent from its 52-week low of Rs 12.3 per share. Investors should keep an eye on this micro-cap stock.

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