1:1 bonus share & Rs 57,085 crore order book: Multibagger civil construction stock with 700 per cent returns; Check revised record date inside!
The stock gave multibagger returns of 380 per cent in just 2 years and a whopping 725 per cent in 3 years. I
Power Mech Projects Ltd.’s Board announced bonus equity shares in the ratio of 1:1 i.e., 1 new fully paid-up equity share of Rs 10 each will be issued for every 1 fully paid-up equity share of Rs 10 each held by the Members as of record date. The company announced a revised record date of bonus shares to Tuesday, October 8, 2024.
Additionally, the Board has declared a final dividend of Rs 2 per share. The ex-date for the dividend is Friday, September 28, 2024. Shareholders and beneficial owners who hold shares on Saturday, September 28, 2024, the record date, will be eligible to receive the dividend.
Furthermore, the company has secured a Rs 114.30 crore contract from Coastal Energen Private Limited for the operation and maintenance of their 1200 MW Mutiara Thermal Power Plant in Tamil Nadu for a year starting from October 1, 2024. This domestic contract is significant as it will contribute to the company's revenue and reinforce its position in the thermal power plant operations sector.
On Friday, shares of Power Mech Projects Limited (PMPL) gained 3.01 per cent to Rs 6,777.70 per share from its previous closing of Rs 6,579.75. The stock’s intraday high was Rs 6,797.95 and its intraday low was Rs 6,580. The stock’s 52-week high is Rs 7,450 per share while its 52-week low is Rs 3,342.75 per share.
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Established in 1999, Power Mech Projects Limited is an engineering and construction company offering comprehensive services for power plants, including building, testing, and maintaining boilers, turbines, and generators, as well as civil works and ongoing operations.
Their diverse portfolio encompasses various project scales, from ultra-mega to subcritical power plants, and their expertise extends across eight business units, including industrial services, construction, overseas operations, electrical systems, infrastructure construction, hydropower, manufacturing, and mining. The company has a market cap of over Rs 10,000 crore and as of June 30, 2024, the company’s order book stands at Rs 57,085 crore.
The stock gave multibagger returns of 380 per cent in just 2 years and a whopping 725 per cent in 3 years. Investors should keep an eye on this Small-Cap civil construction company’s stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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