163 per cent returns from its 52-week low: Multibagger solar pumps company bags new order worth Rs 11,36,00,000 from Ahmedabad Municipal Corporation
The stock gave multibagger returns of 163 per cent from its 52-week low of Rs 44.95 per share.
HEC Infra Projects Limited was awarded a contract by the Ahmedabad Municipal Corporation (domestic entity) for the supply, installation, testing, and commissioning of electro-mechanical equipment at the Ghatlodia TP 02 water distribution pumping station. This domestic project is valued at Rs 11.36 crore and needs to be completed within 8 months.
Earlier, HEC Infra Projects Limited successfully commissioned a 60 MW solar plant substation and transmission work for Tata Power Solar Limited. This domestic project, valued at Rs 9.59 crore, was completed on time and handed over to the nation.
HEC Infra Projects Ltd (founded in 2005) is an electrical and electro-mechanical EPC contractor for governments and private entities. They design, supply, install, and commission a wide range of electrical projects, from power lines and substations to solar and water pumping systems. The company reported positive numbers in its Quarterly Results (Q1FY25) and annual results (FY24). The promoters own a 73.20 per cent stake, DIIs own an 8.52 per cent stake and the rest 18.28 per cent stake is owned by the public.
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On Monday, shares of HEC Infra Projects Ltd gained 0.30 per cent to Rs 118.19 from its previous closing of Rs 118.54. The company has a market cap of Rs 114 crore and debtor days have improved from 181 to 74.4 days. The stock gave multibagger returns of 163 per cent from its 52-week low of Rs 44.95 per share and investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.