700 per cent returns: This micro-cap company receives an order worth Rs 16 crore!

The stock gave multibagger returns of 125 per cent in just 1 month whereas BSE Industrial Index is up by only 4 per cent.

On Friday, one of the Top Gainers on BSE, shares of GI Engineering Solutions Ltd zoomed 5 per cent upper circuit to Rs 32.48 per share from its previous closing of Rs 30.94. The stock also traded at a new 52-week high of Rs 32.48 per share.   

G.I. Engineering Solutions Limited announced that it has received the first ever confirmed order for supplying structural steel with a single order valued at an amount exceeding Rs 16 crore. The company received the order from a reputed infrastructure development company paving its way into the project sales business for infrastructure and construction materials.   

The company has targeted to enter the project sales segment alongside the distribution network for infrastructural steel and eying a sales target to achieve Rs 200 crore of sales from its infrastructural materials business segment during the financial year 2023-24.  

Additionally, the company has announced right issue in the ratio 11:8 which had a record date as April 18, 2023.   
 

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GI Engineering Solutions, Ltd. is an offshore engineering design company. The Company offers civil engineering and Information Technology (IT) support. The shares of the company saw a spurt in volume by more than 3.14 times on BSE.   

The company has reported excellent Quarterly Results (Q3FY23).  The company is almost debt free and the promoters’ holdings have increased their stake by 1.11 per cent in Q3FY23 over Q3FY22.   

The stock gave multibagger returns of 125 per cent in just 1 month whereas BSE Industrials Index is up by only 4 per cent. The stock gave returns of over 700 per cent in just 1 year. Investors should keep an eye on this civil construction company’s stoc