Rs 400,00,00,000 project: This multibagger railway construction company signs MoU with UNECO Co., Ltd
The stock gave multibagger returns of 2,000 per cent in 2 years and a whopping 3,800 per cent in 3 years.
K&R Rail Engineering Ltd informed the Exchange that it has signed a Memorandum of Understanding (MOU) with UNECO Co., Ltd., a company incorporated in South Korea and having its office at 149, 11th Floor, Gasan digital 1-ro, Geumcheon-gu, Seoul, Korea. This MOU, signed on October 30, 2023, outlines the establishment of a Composite Sleeper Plant in India to cater to the needs of Indian Railways, DFCC/METROs, Public Sector Undertakings (PSUs), and private corporations.
The estimated cost of this project is around Rs 400,00,00,000. The plant will be set up in Nagarnar, Madhya Pradesh, situated near the NMDC Steel Plant. This collaboration with UNECO Co., Ltd., an international entity, will see the execution of a Composite Sleeper Plant specifically designed to service the diverse clientele mentioned above. The project is expected to be completed within a timeframe of 48 months. It is important to note that neither the promoter, promoter group nor any group companies have any existing interest in UNECO Co., Ltd. Therefore, this agreement does not constitute a related party transaction and will be executed at arm's length, ensuring fair market value for all parties involved.
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K&R Rail Engineering Ltd is engaged in carrying on the business of laying private railway sidings on a turnkey basis. The company has a market cap of over Rs 1,100 crore and reported positive numbers in its Quarterly Results and annual results. The company has delivered good profit growth of 259 per cent CAGR over the last 3 years
The stock gave multibagger returns of 2,000 per cent in 2 years and a whopping 3,800 per cent in 3 years. Investors should keep an eye on this Small-Cap stock in the upcoming sessions.
Disclaimer: The article is for informational purposes only and not investment advice.
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