Penny Stock Under Rs 5: Construction Company Bags Order Worth Rs 26,00,00,000 From Vikran Engineering Limited
The project is expected to be completed within 12 months from the date of the Letter of Intent (LOI).
Asya Infosoft Limited has announced that it has secured an order from M/s Vikran Engineering Limited for a multi-village water project scheme under the Jal Jeevan Mission in Chhattisgarh. The scope of the project includes design, drawing, construction, testing, and commissioning. The order is domestic and is valued at Rs 26 crore. The project is expected to be completed within 12 months from the date of the Letter of Intent (LOI). Key terms and conditions include an 8-month timeline for on-site work, with the date of material receipt determining the delivery date. A penalty clause of 0.5 per cent per week, up to a maximum of 5 per cent, is applicable for delivery delays.
Earlier, the company secured a significant order from Brahmaputra Cracker & Polymer Limited (BCPL) for the procurement of Analyzer Systems. These systems will be crucial for setting up HPG-2, BUTENE-1, and PSA units at BCPL's Lepetkata facility. The order, valued at INR 11,33,93,400, is a domestic contract with a stipulated delivery timeline of 8 months from the date of the Final Order Approval (FOA). The delivery date will be determined by the receipt of materials at the site, as certified by BCPL or the Engineering, Procurement, and Construction (EPC) contractor.
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Asya Infosoft Ltd. is an Indian company specializing in providing information technology services. Their core business revolves around offering technology market research, which assists businesses in leveraging innovation and technical knowledge to optimize their IT processes. The company's subsidiary, Ideal Systems Limited, further strengthens its capabilities. While specific details about its founding and management are limited, Asya Infosoft is publicly listed on the Bombay Stock Exchange (BSE) under the symbol 511144.
The company has a market cap of Rs 4.35 crore. The stock was last traded on the BSE exchange on June 13, 2022, where the stock was locked in a 5 per cent lower circuit to Rs 3.61 per share. The stock is currently suspended due to penal reasons or procedural reasons.
Disclaimer: The article is for informational purposes only and not investment advice.