Back-to-back upper circuits and back-to-back big orders: Don’t miss the action in this small-cap multibagger stock below Rs 100!

The stock is locked at an upper circuit limit of almost 5 percent at Rs 97.75 per share. There are about 3,05,000 buyers bidding for the stock.

D-Street bulls continued from where they had left on Thursday as Nifty reclaimed the 21,300 mark, and it is trading near the day's high, up by 0.40 percent. All the sectoral indices were seen trading in the green, led by Nifty Realty and Metal, which were up by over 1.5 per cent.

The broader market indices were seen outperforming the frontline indices, with Nifty Mid-Cap and Small-Cap advancing 0.80 and 1.36 per cent, respectively.

Amidst this buoyant background, there is one small-cap stock below Rs 100 locked at an upper circuit, and interestingly, it has hit back-to-back upper circuits. The stock's name is Marine Electricals (India) Ltd; the stock is locked at an upper circuit limit of almost 5 percent at Rs 97.75 per share. There are about 3,05,000 buyers bidding for the stock.

So, what’s the development in the stock? The company has received various orders amounting to Rs 27.97 crore: (i) Hooghly Cochin Shipyard for the procurement of Electrical Package for IWAI Hybrid Vessel, over 10 months, (ii) Garden Reach Shipbuilders & Engineers for the supply of B&D Spares for IBS Project SVL to CPRO, Visakhapatnam and Kerala, over 6 months, (iii) Deepak Chem Tech for the supply of LT Panels, over 5 months.

Marine Electricals (India) Limited is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. It is into marine, industrial, and renewable energy solutions.

In the month of December itself, the company has received multiple orders. The stock has delivered multibagger returns of nearly 200 per cent in the last one year.

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

1 comments on article "Back-to-back upper circuits and back-to-back big orders: Don’t miss the action in this small-cap multibagger stock below Rs 100!"

G SRINIVAS

I hope it is helpful for me.

12/23/2023 3:52 PM

Please login or register to post comments.