Penny stock at Rs 63: This cable manufacturer bags new order worth Rs 5,55,54,400 from Sham Electropower Pvt Ltd

The stock’s 52-week high is Rs 65.80 and its 52-week low is Rs 37.05.

Marco Cables & Conductors Ltd received two purchase orders from Sham Electropower Pvt Ltd., a domestic entity. Both orders are for the supply of LT AB Cable 3 x 70 + 16 + 50 sq mm and need to be fulfilled within 3 months. The first order has a value of Rs 2,77,30,000 inclusive of GST, while the second one is valued at Rs 2,78,24,400 inclusive of GST. The total value of both orders combined is Rs 5,55,54,400 inclusive of GST. It is important to note that neither the promoter nor any affiliated companies have any interest in Sham Electropower Pvt Ltd., and therefore these transactions are not considered related party transactions.

Earlier the above orders the company received two significant purchase orders totalling Rs. 4,67,84,640 from RMC Switchgears Limited for the supply of Aerial Bunched Cables. The first order, valued at Rs 3,11,89,760, specifies a configuration of 3x70+1x16+1x50 with no delivery timeline mentioned. The second order, valued at Rs 1,55,94,880, mirrors the cable configuration and also lacks a specific delivery timeframe. Both orders are significant for Marco Cables and come from a domestic entity (RMC Switchgears Limited) without any indication of conflicts with the company's promoter group.

Also Read: 3:1 Bonus Share: Suzlon’s peer company turns debt-free with infusion of Rs 900 crore by promoter; details inside

About the Company

Marco Cables & Conductors Ltd, established in 1989, is an Indian manufacturer of wires, cables, and conductors. Their product range caters to power distribution needs, with options like LT Aerial Bunched Cables (ideal for challenging terrains), AAAC Conductors (offering high conductivity and strength), LT XLPE Cables (featuring copper or aluminium conductors with XLPE insulation), ACSR Conductors (known for their tensile strength, suitable for long spans), and LT PVC Cables (available in various core configurations and sizes). They operate a manufacturing unit in Nasik, Maharashtra, with a capacity of 18,000 kilometres of cables produced annually. The company has a market capitalization of over Rs 110 crore.

Today, shares of Marco Cables & Conductors Ltd gained 12.2 per cent to Rs 63 per share with an intraday high of Rs 63 and an intraday low of Rs 57.55 from its previous closing of Rs 56.15. The stock’s 52-week high is Rs 65.80 and its 52-week low is Rs 37.05. Investors should keep an eye on this micro-cap stock.

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