Back-to-back upper circuits: Heavy buying witnessed in this multibagger penny stock; Company bags orders from Indian Railways!

The stock is up 76 per cent from its 52-week low of Rs 24.04 per share and gave multibagger returns of over 700 per cent in a decade.

Today, shares of Niraj Cement Structurals Ltd hit a 5 per cent upper circuit to Rs 42.23 per share. The stock’s 52-week high is Rs 46.24 and its 52-week low is Rs 24.04. In the recent trading sessions, the stock has been hitting back-to-back upper circuits. The shares of the company saw a spurt in volume by more than 19.57 times on BSE.

Niraj Cement Structurals Limited (NCS) has secured four work orders totalling Rs 164.40 crore from Indian Railways. The contracts include the construction of good circulating areas, road over bridges (ROBs), a passenger circulating area, and execution of civil engineering work for a Metro Railway project. The completion periods range from 10 to 24 months.

Order Details

Order No. 1: Construction of three good circulating areas with approach roads and a goods office at Digaru, Tetelia, and Barahu in connection with the Digaru-Hojai Patch of N.F. Railway.

• Value: Rs 47.52 crore (excluding GST)
• Completion period: 24 months

Order No. 2: Construction of ROBs at Palghar and Saphale, Maharashtra, in connection with the construction of the Western Dedicated Freight Corridor Phase-II Vaitarna.

• Value: Rs 41.32 crore (excluding GST)
• Completion period: 15 months

Order No. 3: Construction of a passenger circulating area with an approach road, drain, and boundary wall from Digaru to Hojai in connection with the Digaru-Hojai Patch Doubling Works of N.F. Railway.

• Value: Rs 39.54 crore (excluding GST)
• Completion period: 24 months

Order No. 4: Execution of balance civil engineering work for the construction of a superstructure by utilizing existing circular railway grinders, dismantling and disposal of the abandoned viaduct of circular railway, firefighting arrangement, and other allied work in connection with Metro Railway from Noapara to Barasat via Bimanbandar.

• Value: Rs 36.02 crore (excluding GST)
• Completion period: 10 months

Niraj Cement Structurals Ltd. is a construction company that provides end-to-end solutions for projects in a variety of sectors, including transportation, urban infrastructure, BRTS projects, industrial infrastructure, and irrigation. It also provides technical and financial support to its subcontractors.

The company has been in the business of speciality engineering construction and infrastructure for over 30 years, and it has a reputation for delivering high-quality projects in even the most challenging conditions.

The company has a market cap of Rs 170 crore and reported positive numbers in its Quarterly Results and annual results. The stock is up 76 per cent from its 52-week low of Rs 24.04 per share and gave multibagger returns of over 700 per cent in a decade. Investors should keep an eye on this micro-cap stock.

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