Multibagger in just 1 year: This small-cap vehicle construction company receives orders worth Rs 150 crore from Independent Power Producers!

The stock is up by 75 per cent in just 6 months and gave multibagger returns of over 155 per cent in 1 year.

Sanghvi Movers Limited has received work orders aggregating to Rs 150 crore from eminent Independent Power Producers (IPP) in the renewable energy sector, for providing crane rental services along with allied services comprising of WTG surface logistics, inter-carting, installation & pre-commissioning of WTGs, development of wind farm and storage yard. Crane services account for approximately 50 per cent of the total contract value and the balance accounts for the aforementioned activities under wind EPC services.

These contracts are of 18 months duration which is starting from April 2023 and ending in October 2024. Out of the total contract value, 41 per cent of the contract value will be executed in the current financial year i.e., FY 2023-24 and the balance will be completed in FY 2024-25. The total order value translates to 539 MW of new capacity addition by our esteemed customers.

On Tuesday, shares of Sanghvi Movers Ltd surged 0.79 per cent to Rs 572.20 per share with an intraday high of Rs 582.20 and an intraday low of Rs 570.

Sanghvi Movers is engaged in the business of providing hydraulic and crawler cranes to various industries in the infrastructure sector. The company has a market cap of Rs 2,475 crore and reported excellent numbers in its Quarterly Results and annual results.

The stock is up by 75 per cent in just 6 months and gave multibagger returns of over 155 per cent in 1 year. This Small-Cap stock should be kept under the radar.