Penny stock under Rs 90 hit upper circuit as company receives new order worth Rs 139,48,00,000 from Maharashtra State Infrastructure Development Corporation
The stock hit a 5 per cent upper circuit to Rs 89.43 per share from its previous closing of Rs 81.61 with a spurt in volume by more than 4 times on BSE.
Tarmat Limited announced that it has been awarded a significant contract, in a joint venture from the Maharashtra State Infrastructure Development Corporation (MSIDC). The contract, valued at Rs 1,39,48,00,000, is for the construction of concrete pavement roads, reconstruction and widening of bridges & culverts along the Revdanda Bridge to Borli to Murud route, spanning a total length of 29.400 kilometres. Tarmat Limited’s share in the joint venture is 80 per cent. The order, awarded by MSIDC, a domestic entity, is for highway work and is expected to be completed within 30 months.
Tarmat Ltd., founded in 1986, is a leading construction company specializing in airfield and national/state highway projects. With ISO 9001:2008 certification, they offer comprehensive engineering, procurement, and construction (EPC) services for infrastructure projects. Their expertise spans airports, highways, railways, real estate and industrial developments. Tarmat has successfully executed numerous projects across India, working for government agencies, private clients, and international organizations. Their notable projects include runway construction and resurfacing at major airports, national highway development and industrial infrastructure development.
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On Tuesday, shares of Tarmat Limited hit a 5 per cent upper circuit to Rs 89.43 per share from its previous closing of Rs 81.61 with a spurt in volume by more than 4 times on BSE. The stock’s 52-week high is Rs 152.89 and its 52-week low is Rs 70.80. The company has a market cap of Rs 181.55 crore and 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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