Penny stock under Rs 60: This cable manufacturer bags new order worth Rs 4,67,84,640 from RMC Switchgears Ltd

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

Marco Cables & Conductors Limited has received two significant purchase orders from RMC Switchgears Limited for the supply of Aerial Bunched Cables.

The first order is for a total value of Rs 3,11,89,760 inclusive of all taxes. This order specifies the supply of Aerial Bunched Cable with the configuration 3x70+1x16+1x50. There is no mention of any specific timeline for delivery, but the order is considered significant based on its value. The second order, also from RMC Switchgears Limited is for the supply of the same type of Aerial Bunched Cable (3x70+1x16+1x50). The total value of this order is Rs. 1,55,94,880 inclusive of all taxes. Similar to the first order, there is no mention of a specific delivery timeframe.

Combining both orders, the total value reaches Rs 4,67,84,640 which is a substantial amount for Marco Cables & Conductors Limited. It is important to note that both orders are from a domestic entity (M/s. RMC Switchgears Limited) and there is no indication of any conflict of interest with the promoter group of Marco Cables.

Also Read: Rs 85,000 crore order book: Multibagger railway infra company emerges as lowest bidder (L1) for an order worth Rs 191,53,74,279.51 from South Eastern Railway

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 Rs 91.63 crore.

On Friday, shares of Marco Cables & Conductors Ltd plunged 5.31 per cent to Rs 49 per share with an intraday high of Rs 54.95 and an intraday low of Rs 48.50 from its previous closing of Rs 51.75. 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.