On Thursday, shares of the company surged by more than 2 per cent and made an intraday high of Rs 15.16.

In FY22, the company reported a net profit of Rs 14 crore compared to a net loss of Rs 103 crore in FY21.

On the broader markets, BSE Mid-cap stocks and BSE small-cap stocks were outperforming. 

The stock gave multibagger returns of 276.35 per cent from its 52-week low of Rs 4.65. 

But that's not all! The company recently announced that, along with its joint venture (JV) partners, it has received a letter of award for the Rihand Micro Irrigation Project from the Department of Water Resources, Madhya Pradesh. 

This penny stock has become the talk of the town among dividend investors on D-Street, and for good reason. Despite its small market cap of just 3.35 crore, the stock has been making waves, having recently hit its upper circuit limit of 5 per cent at a level of Rs 11.

Today shares of the company saw a spurt in volume by more than 1.46 times on BSE.   

The trading of Binani Industries' stock resumed on February 23, 2023, with an opening level of Rs. 10.90. Since then, the stock has hit back-to-back upper circuits and settled at Rs. 13.90 on Wednesday.

The stock has jumped over 11 per cent on Wednesday and with this strong up-move it has recorded one of its best days in the near term. Interestingly, this up-move in the stock is seen on the back of huge volumes

Including the above order received, the company’s order book stands at Rs 16,809 crore.