Penny stock under Rs 10: This civil construction company receives orders worth Rs 44,71,24,186 from Executive Engineer Public Work!
The stock is up 44.58 per cent in just 3 months and over 50 per cent in 1 year.
Madhav Infra Projects Limited received letters of acceptance for 2 projects from the Office of The Executive Engineer Public Work (Department Bridge Construction Division 52-Chanayakapuri, Sachin Tendulkar Marg, Gwalior (M.P) worth Rs 44,71,24,186.
One order includes the construction of a railway over a bridge in lieu of level crossing No. 47 /SPL on Gun an Ashoknagar Road in district Ashoknagar which is worth Rs 21,82,67,378 and will be completed within 24 months from LOI and another order is received for construction of railway over bridge in lieu of level crossing No. 17 on Mungawali-Chanderi Road in district Ashoknagar which is worth Rs 22,88,56, 808 and will be completed within 24 months from LOI.
Earlier, the company received an order worth Rs 117.92 crores from ONGC-Ankleshwar for the design, construction, and operation of a 15 MW solar power plant. The project will be completed in 12 months.
On Thursday, shares of Madhav Infra Projects Limited plunged 2 per cent lower circuit to Rs 5.88 per share from its previous closing of Rs 6 per share. The shares of the company saw a spurt in volume by more than 2 times on BSE.
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 161.75 crore. The company's financial performance in its Quarterly Results (Q1FY24) and annual results (FY23) was strong, with significant growth in net sales and net profit.
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The shares of the company have a PE of 4.11x whereas the industry PE is 30.2x and a ROE of 23 per cent. The stock is up 44.58 per cent in just 3 months and over 50 per cent in 1 year. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.