Upper circuit penny stock under Rs 60: This micro-cap company receives orders worth Rs 14.7 crore from National Highway Authority of India!

The shares of the company have a PE of 9.43x whereas the industry PE is 22.4x with multibagger returns of 115 in 3 years.

Artefact Projects Ltd informed that the company has been awarded the following Projects/orders worth Rs 14.7 crore from the National Highway Authority of India (NHAI):

1) Independent engineer (IE) services for operation and maintenance stage and balance construction work for four laning of the Bhavnagar-Talaja section of NH - 51 (PKG-1) through hybrid annuity mode in the state of Gujarat.

2) Consultancy Services for AE for Supervision of Construction of 4 lane access-controlled highway from Samarlakota to Achampeta Junction as a part of Kakinada port to NH-16 connectivity in AP on EPC mode under Bharatmala Pariyojana.

3) Independent engineer services for operation and maintenance of NH26 in the state of UP and MP under the North-South corridor on TOT Mode.

Incorporated in 1987, Artefact Projects Ltd is engaged in the project consultancy business in India. The company has a market cap of 38.19 crore and reported positive numbers in its Quarterly Results and annual results. The stock is trading at 0.69 times its book of Rs 76.5 each.

On Thursday, shares of Artefact Projects Ltd zoomed 5 per cent upper circuit to Rs 52.49 per share from its previous closing of Rs 50 with a spurt in volume by more than 5 times on BSE. The stock’s 52-week high is Rs 71.8 and its 520week low is Rs 30.16

The shares of the company have a PE of 9.43x whereas the industry PE is 22.4x with multibagger returns of 115 in 3 years. Investors should keep an eye on this micro-cap stock.

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