Penny stock at Rs 9.43: This micro-cap company bags new order worth Rs R 2,94,65,496 from U.P. Power Transmission Corporation Ltd

The stock is up by 92 per cent from its 52-week low of Rs 4.91 per share.

Sharika Enterprises Limited has been awarded a Turnkey project by U.P. Power Transmission Corporation Limited (UPPTCL) for supplying and erecting outdoor equipment for two 145 KV Bays at a 400 KV substation located at Rasara, Ballia in Uttar Pradesh. This domestic project valued at Rs 2,94,65,496 needs to be completed within 6 months from the date of award.

Sharika Enterprises Ltd. is a seasoned power sector expert with a legacy of expertise in transmission and distribution. The company envisions leading a transformative shift towards a 'Smart Grid' future, fuelled by innovation, cutting-edge technologies, and sustainability. Their significant focus extends to the solar power sector, with a proven track record of successful solar PV project implementations in collaboration with government bodies, PSUs, schools, and the private sector. Sharika Enterprises offers a comprehensive suite of solar solutions, including grid-connected and off-grid systems, hybrid solutions, battery energy storage, EV charging systems, microgrids, real-time monitoring, and solar streetlights.

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On Friday, shares of Sharika Enterprises Ltd gained 2 per cent upper circuit to Rs 9.43 per share from its previous closing of Rs 9.25. The stock’s 52-week high is Rs 12.97 and its 52-week low is Rs 4.91.  

The company has a market cap of Rs 40 crore. According to Quarterly Results, the net sales increased by 111 per cent to Rs 24.45 crore in Q3FY24 compared to Q3FY23. The company reported a net loss of Rs 1.88 crore in Q3FY24. The stock is up by 92 per cent from its 52-week low of Rs 4.91 per share.

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