Multibagger penny stock under Rs 50: This civil construction company receives order worth Rs 21,00,00,000 from Waaree Energies Ltd!

The stock gave multibagger returns of 125 per cent in just 1 year whereas BSE Sensex Index is up by 14 per cent.

Shashijit Infraprojects Ltd informed that the company have received a Letter of Intent (LOI) for the construction of an effluent treatment plant (ETP), chemical and utility building and other civil work project from Waaree Energies Limited situated at Survey No. 1934, near Darshan Hotel, NH-48, Village-Degam, Taluka-Chikhali, Navsari District, Gujarat-396530, India. The order is worth Rs 21,00,00,000.

Earlier, the company received an order for the construction of a commercial building from Shree Hari Developers. The order is worth Rs 12,00,00,000.

Additionally, the Board of Directors of the company have approved a stock split of the equity shares in the ratio 1:5 i.e., existing equity shares of face value of Rs 10 each of the company shall be sub-divided into equity shares of face value of Rs 2 each of the company. The company fixed the record date as Friday, October 27, 2023.  

Furthermore, the company announced bonus shares in the ratio of 1:5 for a face value of Rs 10 each in 2018.

Incorporated in 2007, Shashijit Infraprojects Ltd does the construction of residential, industrial, commercial and Institutional buildings. The company has a market cap of Rs 31.53 crore.

On Tuesday, shares of Shashijit Infraprojects Ltd plunged 0.49 per cent to Rs 38.22 per share with an intraday high of Rs 42.64 and an intraday low of Rs 38.05. The stock’s 52-week high is Rs 50.40 and its 52-week low is Rs 16.20.

The stock gave multibagger returns of 125 per cent in just 1 year whereas BSE Sensex Index is up by 14 per cent. Investors should keep an eye on this micro-cap stock.

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