Rs 3,200 crore order book: Heavy buying in this multibagger civil construction stock; Hit 20 per cent upper circuit and fresh 52-week high!
The stock gave multibagger returns of 220 per cent in just 1 year whereas BSE Sensex Index is up by 21 per cent.
On Thursday, shares of RPP Infra Projects Ltd jumped 20 per cent upper circuit to an intraday high of Rs 198.90 per share from its previous closing of Rs 165.75. The stock also made a fresh new 52-week high is Rs 198.50 while its 52-week low is Rs 58. At the closing bell, shares of the company were trading at Rs 194.90 per share, up 17.6 per cent with a spurt in volume by more than 5 times on BSE.
In 1995, RPP Infra Projects Limited was formed. It is involved in the construction of many infrastructure sectors such as roads, buildings, industrial structures, power, irrigation, and waste management. As of June 2024, the company has an order book of over Rs 3,200 crore (including the below order).
RPP Infra Projects has secured two new contracts on the Engineering, Procurement, and Construction (EPC) model for building new district jails with a capacity of 1,026 inmates each. The first project, valued at Rs 158.82 crore (inclusive of GST), involves constructing a jail in Hapur, Uttar Pradesh, awarded by the Office of the Superintending Engineer, P.M.G.S.Y. Circle, PWD Meerut. The second project, worth Rs 152.11 crore (inclusive of GST), is for a similar jail in Jaunpur, Uttar Pradesh, awarded by the Office of the Superintending Engineer, P.M.G.S.Y. Circle, PWD Varanasi. Both projects are domestic contracts with an execution timeline of one year and six months.
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In terms of finances, RPP Infra Projects has a market cap of over Rs 700 crore. The company reported amazing numbers in its Quarterly Results (Q4FY24) and annual results (FY24). The company’s shares have a PE of 13x whereas the industry PE is 23x. The stock gave multibagger returns of 220 per cent in just 1 year whereas BSE Sensex Index is up by 21 per cent. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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