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Back-to-back upper circuit: Multibagger penny stock under Rs 35, company bagged new order worth Rs 2,32,95,005 for infrastructure work for Indian Navy!
Rakesh Deshmukh
/ Categories: Trending, Mindshare

Back-to-back upper circuit: Multibagger penny stock under Rs 35, company bagged new order worth Rs 2,32,95,005 for infrastructure work for Indian Navy!

The stock has generated an impressive 61 per cent return in just two weeks.

NMS Resources Global Limited engaged in the business of Trading and Consultancy services, has made a significant announcement regarding orders received by the company.

As detailed in the official report, NMS Resources Global, has been awarded a work order for comprehensive Infrastructure Refurbishment work, encompassing Civil, Electrical, and Networking components, for the CMS Training System located in Kochi, India for Indian Navy.

The esteemed contract has been granted in response to a tender issued by Bharat Electronics Limited, a prestigious Government of India enterprise operating under the Ministry of Defence. The agreement for this project has been formalized through a Memorandum of Understanding (MOU) signed on September 2, 2023, between NMS Resources Global Limited and the group company.

The aggregate value of the work order stands at an impressive Rs. 2,32,95,005 (Rupees Two Crore Thirty-Two Lakhs Ninety-Five Thousand Five Rupees Only).

Today, the shares of the company commenced trading at Rs 31.60 and finally concluded trading at Rs 31.60 each on the BSE. This represents a 4.98 per cent increase or Rs 1.50 up from the previous day's closing price of Rs 30.10 apiece. For the past six days, the stock has been continuously hitting the upper circuit.

The market capitalization of the company is just Rs 9.50 crore. Additionally, the stock has delivered a return of 55 per cent in just one month and 320 per cent in the last three years.

Investors must keep an eye on this stock.

DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.

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

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