Rs 57,328 crore order book: This multibagger civil construction company receives new order worth Rs 396.25 crore from South East Central Railway
The stock gave multibagger returns of over 150 per cent in just 1 year and a whopping 850 per cent in 3 years.
Power Mech Projects Ltd (PMPL) informed that the company has received an order worth Rs 396.25 crore from South East Central Railway. The order includes the construction of the electrified 4th railway BG line between Dadhapara- SelahaDagori & Nipania- Bhatapara-Hathbandh stations in the state of Chhattisgarh on an EPC basis. The order will be completed within 30 months from the letter of intent.
Earlier, the company has secured a significant boost with two new orders totalling over Rs 1,200 crore. The first, worth Rs 825 crore, involves civil and mechanical construction for a thermal power project in Madhya Pradesh from Mahan Energen Limited, while the second, valued at Rs 381.34 crore, entails the construction of various railway infrastructure elements in Maharashtra from Rail Vikas Nigam Limited (RVNL). Both projects will be completed in phases within a timeframe ranging from 22 to 36 months.
Established in 1999, Power Mech Projects Limited is an engineering and construction company offering comprehensive services for power plants, including building, testing, and maintaining boilers, turbines, and generators, as well as civil works and ongoing operations.
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Their diverse portfolio encompasses various project scales, from ultra-mega to subcritical power plants, and their expertise extends across eight business units, including industrial services, construction, overseas operations, electrical systems, infrastructure construction, hydropower, manufacturing, and mining. The company has a market cap of over Rs 8,000 crore and as of November 13, 2023, the company’s order book stands at Rs 57,328 crore.
Today, shares of PMPL plunged 0.24 per cent to Rs 5,195.55 per share from its previous closing of Rs 5,208.05 with a spurt in volume by more than 2.20 times on BSE. The stock’s intraday high was Rs 5,398 and its intraday low was Rs 5,178.65. The stock gave multibagger returns of over 150 per cent in just 1 year and a whopping 850 per cent in 3 years. Investors should keep an eye on this small-cap civil construction company’s stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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