Multibagger civil construction stock hit 52-week high as company bags new order worth Rs 7 crore from Bundy India Ltd
The stock gave multibagger returns of 345 per cent from its 52-week low of Rs 42.51 per share.
Conart Engineers Limited announced that it has been awarded a prestigious project to construct civil work at the Bundy India Limited facility in Vadodara. The project, valued at Rs 7 crore, will be executed on a service basis and is expected to be completed within six months.
Earlier, the company secured a significant contract to construct a formulation facility for Apothecon Pharmaceuticals Private Limited in Vadodara. The project is valued at Rs 14.50 crore (including GST). The scope of work encompasses the entire construction of the formulation facility and is expected to be completed within eleven months from the commencement of on-site mobilization.
Conart Engineers Ltd., a renowned engineering firm established in 1973, specializes in providing comprehensive general contracting and project management services. With a strong track record spanning decades, Conart has successfully executed numerous complex projects across various industries. Their expertise lies in cost monitoring, schedule management, subcontractor coordination, field engineering, safety assurance, and quality control.
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
Beyond general contracting, Conart also offers design-built and turnkey services. This allows them to take on projects from inception to completion, ensuring seamless integration of design, construction, and management. Their turnkey services extend to real estate investing, finance, and development, providing clients with a one-stop solution for their projects. Additionally, Conart's project management services encompass master planning, bid phase support, cost estimating, CPM scheduling, change order evaluation, project cost controls, safety management, quality inspections, technology services, and constructability reviews.
On Wednesday, shares of Conart Engineers Ltd surged 6.03 per cent and made a new 52-week high of Rs 188.90 per share from its previous closing of Rs 178.15 per share. The stock gave multibagger returns of 345 per cent from its 52-week low of Rs 42.51 per share. At the closing bell, shares of the company were trading at Rs 186.90 per share, up 4.91 per cent with a 1.80 times spurt in volume. Investors should keep an eye on this civil construction stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: Ashish Kacholia bought 10,45,750 shares of this multibagger penny stock under Rs 70; Scrip hit 10 per cent upper circuit on September 11