Penny Stock Under Rs 15 Hit Upper Circuit After Bagging Order Worth Rs 264,39,99,908 From Western Railways
From Rs 8.07 per share (52-week low) to Rs 14.75 per share, the stock is up by 83 per cent in just 1 year.
On Friday, the shares of Madhav Infra Projects Limited were locked in a 2 per cent upper circuit to Rs 14.75 per share from its previous closing of Rs 14.47 per share. The stock’s 52-week high is Rs 23.90 per share while its 52-week low is Rs 8.07 per share. The shares of the company saw a spurt in volume by more than 2.57 times on BSE.
MADHAV INFRA PROJECTS LIMITED has secured a significant contract from the Office of Deputy Chief Engineer Construction, Western Railway. This contract pertains to a comprehensive railway infrastructure project between Amjhera and Sardarpur, encompassing earthwork, bridge construction, track laying, and other ancillary works. The project is a crucial component of the Dahod-Indore new broad-gauge line initiative.
The awarded contract is valued at Rs 264,39,99,908 and is expected to be executed within 18 months. This domestic contract highlights MADHAV INFRA's capabilities in undertaking large-scale railway infrastructure projects. The company's expertise in earthwork, bridge construction, track laying, and other related services will be instrumental in delivering this project on time and within budget.
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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 397.63 crore. The company announced positive numbers in its Quarterly Results (Q2FY25) and half-yearly results (H1FY25).
As of September 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. From Rs 8.07 per share (52-week low) to Rs 14.75 per share, the stock is up by 83 per cent in just 1 year. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.