High ROE & High ROCE stock: This micro-cap construction company receives order worth Rs 47.98 crore from Western Andhra Tollway Pvt Ltd!
The stock is up by 15 per cent in 5 days and over 30 per cent in 1 year.
Markolines Pavement Technologies informed that the company has received a work order (WO) worth Rs. 47.98 Cores (excluding GST), from Western Andhra Tollway Pvt Ltd (a Domestic Corporation) located at Mahabubnagar, Telangana, India, for the work of a major maintenance overlay works at Western Andhra Tollway Private Limited, which shall be completed within 10 months.
Additionally, Markolines Pavement Technologies Ltd as known as Markolines Traffic Controls Ltd in its recent press release announced a rights issue in the ratio 5:32. The company had done an ex-rights issue on January 17, 2023, as the record date.
On Friday, shares of Markolines Pavement Technologies Ltd zoomed 9.24 per cent to an intraday high of Rs 126.50 per share from its previous closing of Rs 115.80. At the closing bell, shares of the company were trading at Rs 125.40 per share, up 8.29 per cent. The shares of the company saw a spurt in volume by more than 3.43 times on BSE.
Markolines Pavement Technologies Ltd has a market cap of Rs 239.61 crore. It is engaged in highway operations & maintenance (O&M) service providing company. The company’s operations are mainly divided into-highway operations, highway maintenance, and specialized maintenance services. The company informed the exchange that 'Markolines Traffic Controls Ltd' will be renamed 'Markolines Pavement Technologies Ltd' in the current fiscal year, 2022-2023.
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According to the half-yearly and annual financial statements, the firm reported positive numbers. In H2FY23 net sales increased by 44.12 per cent and net profit increased by 12.50 per cent compared to H2FY22. The net sales increased by 66.85 per cent and net profit increased by 60 per cent in FY23 over FY22. The stock has a ROE of 25 per cent and a ROCE of 27 per cent.
The stock is up by 15 per cent in 5 days and over 30 per cent in 1 year. Investors should keep an eye on this micro-cap stock.