Rs 1,070.38 crore order book: This micro-cap penny stock below Rs 70 received order from Andaman and Nicobar Islands!

The stock is up by 60 per cent from its 52-week low of Rs 41 per share.

RKEC Projects Limited informed that the company have been awarded a work order for the repair of jetty fenders at 330 MTRS long CG Jetty under GE Haddo at Port Blair in Andaman and Nicobar Islands”. The time of completion for the said project is 12 months from the letter of intent (LOI).

Earlier, the company was awarded a work order for the installation and commissioning of TLF Skid at Kochi LNG Terminal, for an amount of Rs 21,17,71,992 exclusive of GST. The time of completion for the said project is 12 months from LOI.

Order Book Updates: The un-executed order book as of March 31, 2023, stands at Rs 1070.38 crore. With the unexecuted order book of Rs 1070.38 crore, the Company has strong revenue visibility for the coming years. Moreover, the Company has been exploring bids for projects and is expected to add a good number of fresh orders. This makes the Company well placed to better execute its projects and further look for opportunities in this space leading to an increase in profitability.

RKEC Projects Ltd is engaged in the business of civil works and specialized marine works, construction of roads, buildings, bridges & flyovers, survey works under unmanned aerial systems, etc. The company has a market cap of Rs 147 crore.

On Friday, shares of RKEC Projects Ltd gained 0.16 per cent to Rs 61.70 per share with an intraday high of Rs 65.90 and an intraday low of Rs 60.50. The stock is up by 60 per cent from its 52-week low of Rs 41 per share and investors should keep an eye on this micro-cap stock.

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