Multibagger stock under Rs 60 hit upper circuit & 52-week high after bagging order worth Rs 38 crore from GHV (India) Pvt Ltd

From Rs 19.78 per share (52-week low) to Rs 58.90 per share, the stock gave multibagger returns of 198 per cent.

Sindu Valley Technologies Limited has secured a significant subcontract from M/s. GHV (India) Private Limited for a road construction project in Indapur, Maharashtra. This subcontract, valued at approximately Rs. 38 crores, entails the execution of road construction work as per the specifications provided by M/s. GHV India Pvt Ltd., Mumbai. The project is expected to be completed within a timeframe of 6 months. This subcontract marks a notable achievement for Sindu Valley Technologies Limited and reinforces its position as a key player in the infrastructure sector.

On Friday, shares of Sindu Valley Technologies Limited hit a 2 per cent upper circuit to Rs 58.90 per share from its previous closing of Rs 57.75 per share. The stock also made a new 52-week high of Rs 58.90 per share while its 52-week low is Rs 19.78 per share.

Sindu Valley Technologies Limited was originally incorporated as Jhunjhunu Investments Limited in 1976 and changed its name to Sindu Valley Technologies Limited in 2000. In 2023, Mr Jahidmohmed H. Vijapura, JHV Commercials LLP, and Mrs Husena Musamji acquired a majority stake in the company and are interested in developing business related to infrastructure, energy, water, buildings and industrial projects.

The company has a market cap of Rs 4.12 crore with a 73.55 per cent stake owned by promoters and the rest 26.45 per cent stake owned by public shareholders. From Rs 19.78 per share (52-week low) to Rs 58.90 per share, the stock gave multibagger returns of 198 per cent. Investors should keep an eye on this multibagger penny stock.

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