Rs 1,070.38 crore order book: This micro-cap penny stock below Rs 100 received order worth Rs 26,53,24,957.19 from Indian Railways!

The stock gave multibagger returns of 110 per cent from its 52-week low of Rs 41 per share.

RKEC Projects Limited informed that the company informed that RKEC - SURYADEVARA joint venture has been awarded work order provision of premium modular toilets separately for gents, ladies, Divyangjan and waiting halls in Chirala, Tenali and Eluru, Bapatla Railway Stations under the ABS Scheme for an amount of Rs 26,53,24,957.19. The time of completion for the said projects is 9 months.

Earlier, the company was awarded a work order for the repair of jetty fenders at 330 MTRS long CG Jetty under GE Haddo at Port Blair in Andaman and Nicobar Islands”. The time of completion for the said project is 12 months from the letter of intent (LOI).

Order Book Updates: The un-executed order book as of March 31, 2023, stands at Rs 1070.38 crore. With the unexecuted order book of Rs 1070.38 crore, the Company has strong revenue visibility for the coming years. Moreover, the Company has been exploring bids for projects and is expected to add a good number of fresh orders. This makes the Company well placed to better execute its projects and further look for opportunities in this space leading to an increase in profitability.

RKEC Projects Ltd is engaged in the business of civil works and specialized marine works, construction of roads, buildings, bridges & flyovers, survey works under unmanned aerial systems, etc. The company has a market cap of Rs 195 crore.

On Friday, shares of RKEC Projects Ltd gained 5.60 per cent to Rs 86 per share with an intraday high of Rs 86 and an intraday low of Rs 81. The stock’s 52-week high is Rs 90.80 and its 52-week low is Rs 41.

The stock gave multibagger returns of 110 per cent from its 52-week low of Rs 41 per share and investors should keep an eye on this micro-cap stock.

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