1:1 Bonus Share: Multibagger penny stock at Rs 44.85 hit upper circuit & 52-week high as it bags new orders worth Rs 2,70,00,000 from Airport Authority of India (AAI)

The stock gave multibagger returns of 138.8 per cent from its 52-week low of Rs 18.78 per share. I

On Friday, shares of Abhishek Integrations Limited hit a 5 per cent upper circuit to Rs 44.85 per share from its previous closing of Rs 42.78 per share. The stock also made a fresh new 52-week high of Rs 44.85 per share whereas its 52-week low is Rs 18.78 per share.

Abhishek Integrations Limited (AIL) informed that the company have been awarded the work contract for “ARMO of Electrical & Mechanical Installations of operational areas including GLF system, UPS, all types of AC units, Water Coolers / RO system, Fire Hydrant System, Fire Alarm & Detection System at Dehradun Airport for the year 2024-26, having total contract value of Rs 2.70 crore including GST, by the Airport Authority of India (AAI), Dehradun Airport.”

Additionally, the shares of the company ex-traded bonus shares in the ratio of 1:1 for its equity shareholders as of the record date. The shares ceased to trade cum-bonus on July 19, 2023, which was the record date for the bonus issue.

Also Read: Artificial Intelligence (AI) revolutionizing healthcare: A look at the present and future!

Abhishek Integrations Limited is in the business of developing, maintaining & operating Airports and allied businesses.

According to the financials, the company has a market cap of 27 crore. The net sales increased by 23.5 per cent to Rs 10.86 crore and net profit decreased by 18.2 per cent to Rs 0.27 crore in H1FY24 over H1FY23. The net sales increased by 70.26 per cent to Rs 22.55 crore and net profit increased by 34.06 per cent to Rs 0.67 crore in FY23 over FY22.

The promotors of the company hold a 67.70 per cent stake in the company and the rest is owned by the general public which is 32.30 per cent as of March 2024. The stock gave multibagger returns of 138.8 per cent from its 52-week low of Rs 18.78 per share. Investors should keep an eye on this micro-cap stock.

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