Cable Penny stock at Rs 70 to keep under radar as company bags new order worth Rs 10,43,20,260 from Reputed client of cable Industry
The stock is up by 76 per cent from its 52-week low is Rs 38.10 per share.
Marco Cables & Conductors Ltd has secured two significant purchase orders from a Reputed client in the cable industry for the supply of L.T. Aerial Bunched Cable. This domestic order, valued at a total of Rs 10,43,20,260 inclusive of all taxes, necessitates the delivery of the specified cable within a three-month timeframe.
Earlier, the company secured two substantial purchase orders, totalling Rs 5,55,54,400 inclusive of GST, from Sham Electropower Pvt Ltd. for LT AB Cable 3 x 70 + 16 + 50 sq mm. These orders, valued at Rs 2,77,30,000 and Rs 2,78,24,400 respectively, are crucial for the company and need to be fulfilled within a three-month timeframe. Additionally, the company has received two significant orders from RMC Switchgears Limited for Aerial Bunched Cables, totalling Rs 4,67,84,640. Both orders, while significant, lack specific delivery timelines.
About the Company
Marco Cables & Conductors Ltd, established in 1989, is an Indian manufacturer of wires, cables, and conductors. Their product range caters to power distribution needs, with options like LT Aerial Bunched Cables (ideal for challenging terrains), AAAC Conductors (offering high conductivity and strength), LT XLPE Cables (featuring copper or aluminium conductors with XLPE insulation), ACSR Conductors (known for their tensile strength, suitable for long spans), and LT PVC Cables (available in various core configurations and sizes). They operate a manufacturing unit in Nasik, Maharashtra, with a capacity of 18,000 kilometres of cables produced annually. The company has a market capitalization of over Rs 120 crore.
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The stock’s 52-week high is Rs 83.95 and its 52-week low is Rs 38.10. The stock is up by 76 per cent from its 52-week low is Rs 38.10 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.