Back-to-back upper circuit: Heavy buying in this multibagger penny stock as the company receives order worth Rs 4,100 lakh from Megha Engineering & Infrastructures Ltd!

The stock has a PE of 10x whereas the industry PE is 43.8x and gave multibagger returns of 160 per cent in just 6 months.

On Tuesday, one of the Top Gainers on BSE, shares of Jyoti Ltd were locked in a 5 per cent upper circuit to Rs 44 per share from its previous closing of Rs 41.91. The stock made a 52-week high of Rs 44 per share.

In the recent trading sessions, the stock is hitting back-to-back upper circuits as the company informed that it has secured orders of Rs 4,100 lakhs (excluding GST) for the design, manufacturing, supply and supervision of the erection and commissioning of 32 nos. vertical turbine pumps along with 32 nos. HT induction motors with spares from Megha Engineering & Infrastructures Limited, Hyderabad for Southern Link Projects, Gujarat. The order is to be executed by September 30, 2024.

Jyoti Ltd offers hydraulic and electrical products and services and designs and manufactures a wide range of Pumps and EPC Pumping Systems from concept to commissioning. The company is comprised of 2 divisions viz. project division and the switchgear division.

Talking about the financials, Jyoti Ltd has a market cap of Rs 75.37 crore with a 3-year stock price CAGR of 84 per cent. The company reported positive numbers in its Quarterly Results and annual results. In FY23, net sales increased by 30 per cent to Rs 155 crore and net profit skyrocketed 300 per cent to Rs 4 crore compared to FY22.

The stock has a PE of 10x whereas the industry PE is 43.8x and gave multibagger returns of 160 per cent in just 6 months. Investors should keep an eye on this micro-cap stock.

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