Heavy Buying and 300 per cent returns: Back-to-back upper circuit in this multibagger defence stock; bags new order worth Rs 4.48 crore!
Shares of the company have gained more than 140 per cent in the last six months.
Shares of Marine Electricals (India) Limited were locked in the upper circuit on Thursday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. The stock has gained more than 140 per cent in the last six months.
Marine Electricals (India) Limited has secured a Rs. 4.48 crore order from Crescon Projects & Services Private Limited. The order entails the supply of LT and HT panels for the third floor of the Princeton project. The company is expected to deliver the panels within the next two to three months.
Recently, Marine Electricals (India) Limited has secured a significant order valued at Rs. 2.99 crore from Concept Engineering Projects Private Limited for the supply of Low Tension (LT) panels. This order mandates the delivery of the panels within a three-month timeframe. The successful acquisition of this contract solidifies Marine Electricals' position as a key player in the electrical equipment market and reinforces its commitment to meeting the evolving demands of its customers. The company has an order book of Rs 540 crore as of December, 2023.
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Marine Electricals (India) Limited primarily provides customised electrical solutions to the marine and non-marine sectors. The company offers integrated and multidisciplinary total solutions that lead to better business processes and more efficiency for customers and the customers they, in their turn, serve. The company serves the market in diversified areas like Ship Building, Navy, Industries, Commercial Establishments. The shares of Marine Electricals (India) Limited have also delivered multibagger returns of over 300 per cent in the last one year.
The stock has shown tremendous growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.