Penny stock under Rs 1: This micro-cap cable & conductor company receives order worth Rs 566 million from Overseas Metal & Alloys Pvt Ltd!
The company is expected to report strong financial results for Q2FY24, as revenue is expected to increase significantly due to the recent order.
Godha Cabcon & Insulation Ltd announced that the company has successfully acquisition of a substantial order from Overseas Metal & Alloys Pvt Ltd, a prominent player in the industry. This order is valued at approximately Rs 566 million and represents a significant step forward in our mission to provide top-quality products and services to our valued customers.
The order includes 4 Core HT Power Cables (Quantity – 1,20,000 meters) & Aluminium ACSR Weasel Conductor (Quantity – 1,20,000 metres) and will be delivered within 25 days from LOI.
On Wednesday, one of the Top Gainers on NSE, shares of Godha Cabcon & Insulation zoomed 5.88 per cent upper circuit to Rs 0.90 per share from its previous closing of Rs 0.85. The stock’s 52-week high of Rs 4.34 and its 52-week low is Rs 0.80.
Godha Cabcon & Insulation Ltd manufactures aluminium conductors, which have applications in overhead electricity transmission and distribution lines. Its manufacturing unit is located in Indore.
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According to the financials, GCI has a market cap of over Rs 60 crore. The company is also debt-free and its current debt is just Rs 2.5 crore which is 4.17 per cent of its market cap. The company reported net sales of Rs 0.07 crore and net loss of Rs 0.10 crore in Q1FY24 compared to Q1FY23. The company is expected to report strong financial results for Q2FY24, as revenue is expected to increase significantly due to the recent order.
Investors should keep an eye on this micro-cap cable & conductor company’s stock.
Disclaimer: The article is for informational purposes only and not investment advice.