Penny stock under Rs 20: This power company awarded two orders worth Rs 775 crore to GE Power; Stock hits upper circuit today

The shares of this Power company have delivered remarkable returns of over 430 per cent over the past three years.

Jaiprakash Power Venture Limited operates in coal mining, sand mining, cement grinding, and the production of thermal and hydroelectric electricity. Today, the company's stocks gained significant traction and hit the upper circuit.

Order Details

Jaiprakash Power Ventures announced that the company has awarded two major orders to GE Power India Limited for the supply, transportation, and erection and commissioning of D&E equipment, as well as for conducting PGT of Boiler FGD for the Bina Thermal Power Plant at Bind and for the Nigrie Super Thermal Power Plant at Nigrie. Collectively, these two orders are worth Rs 774.9 crore, including GST.

Share Performance

Today, shares of this multibagger company commenced trading at Rs 18.56 per share, higher compared to the preceding day's closing figure of Rs 17.68 per share. Throughout the intraday trading session, the stock reached highs and lows of Rs 18.56 and Rs 18.56, respectively. Eventually, the company's shares concluded at Rs 18.56 per share representing an impressive rally of 4.98 per cent on the BSE. The market capitalisation of the company stands at Rs 12,720 crore. Additionally, the stock has delivered an impressive multibagger return of around 222 per cent in the past year.

Financial Overview

In the recent Quarterly Result, Jaiprakash Power Ventures reported a revenue of Rs 2190 crore, representing an impressive year-on-year growth of 82 per cent from Rs 1201 crore in the same quarter last year. The operating profit of the company stands at Rs 577 crore, with an operating profit margin of 26 per cent compared to an operating profit of Rs 10 crore in the same quarter last year. The net profit of the company stood at Rs 173 crore in the December quarter, compared to a loss of Rs 218 crore in the same period last year.

Investors must keep this small-cap stock on their radar.

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