Penny stock under Rs 10: This civil construction company bags a new order worth approx. Rs 23,00,00,000
The company's shares saw a spurt in volume by more than 3.19 times on BSE.
Shashijit Infraprojects Limited has been awarded a new civil construction project for the development of an Industrial Factory Building valued ats approximately Rs 23,00,00,000. This comes as a continuation of their existing work on the Phase-I project for the same client, a leading domestic manufacturer of polyester yarn in India. The new project will be executed within a timeframe of 12-15 months, with Shashijit Infraprojects Limited responsible for developing the entire project according to the agreed-upon scope of work.
Earlier, the company was awarded Letters of Intent (LOIs) for various civil works by Apar Industries Limited and Mastercook Houseware LLP. The LOIs from Apar Industries are valued at around Rs 45 million (excluding taxes) and will be executed at their Khanvel and Rakholi Units (UT of DNH & DD). Mastercook Houseware LLP awarded an LOI worth Rs 40 million (excluding taxes) for a project located at Valsad, Gujarat. These LOIs represent a significant milestone for Shashijit Infraprojects, solidifying their commitment to providing high-quality construction services and contributing to the region's development.
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Furthermore, the shares of the company ex-traded stock split of equity share in the ratio 1:5 i.e., existing equity shares of face value of Rs 10 each of the company shall be sub-divided into equity shares of face value of Rs 2 each of the company. The ex-record date was Friday, October 27, 2023. Furthermore, the company announced bonus shares in the ratio of 1:5 for a face value of Rs 10 each in 2018.
Shashijit Infraprojects Limited is a construction company specializing in industrial, commercial, residential, and institutional buildings in Gujarat, Dadra and Nagar Haveli, and Daman and Diu. Their comprehensive services include general contracting, design-build, development, EPC, and PMC across various industry sectors like engineering, textiles, chemicals, pharmaceuticals, paper, healthcare, hospitality, education, and residential. With a proven track record, Shashijit Infraprojects Limited has completed over 100 industrial building projects.
On Tuesday, shares of Shashijit Infraprojects Ltd surged 1.58 per cent to Rs 7.07 per share with an intraday high of Rs 8.28 and an intraday low of Rs 7. The company's shares saw a spurt in volume by more than 3.19 times on BSE. The stock’s 52-week high is Rs 10.08 and its 52-week low is Rs 4.38. The company has a market cap of Rs 36.6 crore. 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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