Rs 220 crore order book: This multibagger penny stock receives orders worth Rs 5.45 crore from National Highway Authority of India!

Rs 220 crore order book: This multibagger penny stock receives orders worth Rs 5.45 crore from National Highway Authority of India!

Artefact Projects Limited has been awarded the following Projects from the National Highway Authority of India worth Rs 5.45 crore. The order includes independent consultancy services during the operation and maintenance period of the 4-lane dual carriage of NH-30 in the State of Uttar Pradesh on a build, operate and transfer (BOT) basis. The order will be completed within 60 months from the letter of intent (LOI).

Earlier, the company received orders worth Rs 55.46 lakh from the Office of Chief Engineer, Public Works Region, Pune and will be completed within 3 months. The orders include consultancy services for the preparation and finalization of detailed project reports with an improvement of roads.

On Friday, shares of Artefact Projects surged 1 per cent to an intraday high of Rs 61.31 per share from its previous closing of Rs 60.70. At the closing bell, shares of the company ended the day in red, down 1.43 per cent to Rs 59.83 per share.

The Company’s order book of fees stands at Rs 220 crore approx. including orders bagged for 20 project assignments comprising contracted fees of approx. Rs 142 crore in the past year itself.

Artefact Projects Limited provides engineering and construction services for highways, urban infrastructure, and airports. Artefact Projects serves clients worldwide. The company reported positive numbers in its Quarterly Results and annual results. The company has a market cap of Rs 43.5 crore.

The shares of the company have a PE of 7.90x whereas the sectoral PE is 23.7x. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 30.16 per share. Investors should keep an eye on this micro-cap stock.

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