52-week high alert: This civil construction company bags new order worth Rs 171,23,78,001 from the National Highway Authority of India (NHAI)
The stock is up by 89 per cent from its 52-week low of Rs 148 per share.
SRM Contractors Limited announced that they have been awarded a new project by the National Highway Authority of India (NHAI)! We have received the Letter of Acceptance (LOA) for a 5-year PBMC project valued at Rs171,23,78,001. This project involves strengthening and maintenance works on a 103-kilometer section of the Jetpur-Somnath highway (excluding the Junagarh Bypass) in Gujarat.
Earlier, SRM Contractors Limited secured two significant projects from the National Highway Authority of India (NHAI). The first, valued at Rs 100.45 crore, involves constructing slope protection along a 39.139 km stretch of NH55 in Himachal Pradesh under the EPC model, with an 18-month completion timeline. The second, a larger EPC project worth Rs 278.48 crore, entails upgrading and strengthening a 39.1 km section of NH-244 in Jammu and Kashmir, expected to be finished within 24 months. These consecutive wins underscore SRM Contractors' growing prominence in the road construction sector.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.
SRM Contractors Ltd, founded in 2008, is an engineering construction and development company focused on building roads (including bridges), tunnels, and stabilizing slopes, primarily in Jammu & Kashmir and Ladakh. They are ISO 9001:2015 certified and hold a Class A contractor registration with the Public Work (R&B) Department in Jammu & Kashmir. The company can bid on government-funded projects up to 30,000 lakhs for roads and bridges and 50,000 lakhs for tunnels (EPC contracts). They take on projects as an EPC contractor, on an item-rate basis, or through joint ventures with other construction companies. SRM Contractors Ltd also works as a subcontractor for major infrastructure companies like HCC Ltd, Gammon and Patel Engineering Ltd.
The company has a market cap of over Rs 600 crore with an ROE of 28 per cent and an ROCE of 28 per cent. Today, shares of SRM Contractors Ltd gained 3.53 per cent to Rs 279.35 per share. The stock also made a 52-week high of Rs 279.35 per share. The stock is up by 89 per cent from its 52-week low of Rs 148 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: Double Dhamaka! Board announces stock split from Rs 5 to Rs 2 and Rs 1.25/share dividend; Beverages company’s stock trades at high ROE & high ROCE; Results out!