DSIJ Mindshare

Only Buyers: Multibagger Penny Stock at Rs 13.38 was locked in 10 per cent upper circuit on July 22
Kiran Shroff

Only Buyers: Multibagger Penny Stock at Rs 13.38 was locked in 10 per cent upper circuit on July 22

The stock gave multibagger returns of 153.4 per cent from its 52-week low of Rs 5.28 per share.

Today, the shares of Madhav Infra Projects Limited was locked in 10 per cent upper circuit to Rs 13.38 per share from its previous closing of Rs 12.17 per share. The stock’s 52-week high is Rs 15 per share while its 52-week low is Rs 5.28. The shares of the company saw a spurt in volume by more than 2.62 times on BSE and has not made any significant announcements of late. Hence, the rally in the share price could be driven purely by the market forces. 

Earlier in May 2024, MIPL has been awarded a contract by NTPC-SAIL Power Company Limited (NSPCL), a domestic entity, to design, engineer, procure, construct, install, commission, operate, and maintain a 15 MW floating solar photovoltaic (PV) project at the Maroda Reservoir-I in Bhilai, Chhattisgarh. The contract value is Rs 90,34,88,913 (Ninety Crores Thirty-Four Lacs Eighty-Eight Thousand Nine Hundred Thirteen) and must be completed within 12 months. This is not a related party transaction for MIPL.

Furthermore in April 2024, the company was awarded a contract for a solar power generation project by Gujarat Industries Power Company Limited (GIPCL). The project involves the design, engineering, supply, construction, erection, testing, commissioning and subsequent operation and maintenance of a 75 MW (AC) solar power plant at Vastan near SLPP Tal-Mangrol District, Surat, Gujarat, for a total contract value of Rs 329.73 crore. The project will be executed on an Engineering, Procurement and Construction (EPC) basis with a completion period of 330 days.

DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.

Madhav Infra Projects Limited is engaged in the business of infrastructure development and solar power generation. It is the in-house EPC arm of the Madhav group. The company has a market cap of Rs 360 crore. The company announced positive numbers in its Quarterly Results (Q4FY24) and annual results (FY24).

As of June 2024, the promoters of the company own a 68.81 per cent stake and the rest 31.19 per cent stake is owned by public shareholders. The stock gave multibagger returns of 153.4 per cent from its 52-week low of Rs 5.28 per share. Investors should keep an eye on this micro-cap stock.

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

Also Read: Rs 94,000 crore order book: President of India-backed multibagger defence stock gained over 5 per cent with heavy volume & earlier company signed MoU worth Rs 2,970 crore!

Previous Article Rs 94,000 crore order book: President of India-backed multibagger defence stock gained over 5 per cent with heavy volume & earlier company signed MoU worth Rs 2,970 crore!
Next Article Rs 57,053 crore order book: Multibagger civil construction stock hit 52-week high as company bags new order worth Rs 209.50 crore from Hindustan Zinc
Print
10334 Rate this article:
4.0
Please login or register to post comments.
DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR