Low PE multibagger penny stock below Rs 70: This micro-cap company bags new orders worth Rs 14,38,80,300 from National Highway Authority of India!

The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 30.16 per share.

Artefact Projects Limited has been awarded the following Projects from the National Highway Authority (NHAI) of India worth Rs 8,98,80,300. The company, along with its JV- Global lnfra Solutions, has been awarded this Project from NHAI for consultancy services for the authority's engineer for supervision of 4 laning of Mohad to Satai Chat section NH-934 in the State of Madhya Pradesh on EPC Mode.

Additionally, the company received orders worth Rs 5,40,00,000 from NHAI. The order includes consultancy services as independent engineering for four-laning near Tirupati Airport Road on HAM under Bharatmala Pariyojna in the state of Andra Pradesh.

On Friday, shares of Artefact Projects surged 5.50 per cent to an intraday high of Rs 66.90 per share from its previous closing of Rs 63.41. At the closing bell, shares of the company ended the day in green, up 1.78 per cent to Rs 64.54 per share with a spurt in volume by more than 1.1 times on BSE.

Artefact Projects Limited provides engineering and construction services for highways, urban infrastructure, and airports. Artefact Projects serves clients worldwide. The company reported positive numbers in its Quarterly Results and annual results. The company has a market cap of Rs 47 crore.

The shares of the company have a PE of 7.90x whereas the sectoral PE is 23.7x. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 30.16 per share. Investors should keep an eye on this micro-cap stock.

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