Small-Cap multibagger stock jumps 7 per cent with fresh Rs 588 crore order, YTD order book up 200 per cent to Rs 1,803 Crore!
The stock has delivered multibagger returns in the last one year as it has jumped more than 200 per cent.
The Indian benchmark indices exhibited a subdued performance, as the Nifty and Sensex experienced a marginal decline of 0.22 and 0.27 percent, respectively. Notably, the broader market indices displayed resilience, outpacing the frontline indices, as the Nifty Mid-Cap 100 remained nearly unchanged while Small-Cap stocks recorded a notable gain of 0.27 percent. This trend is indicative of a significant skew in favor of advancing stocks within the market.
Within the buoyant Small-cap segment, one particular stock has garnered attention for its remarkable ascent, witnessing a substantial gap-up opening and surging by an impressive 7 percent to reach Rs 242. What is truly striking about this surge is the volume of trade associated with it, as the stock managed to amass nearly half of its average trading session volume within the first half-hour of the trading day.
The catalyst behind this remarkable upswing in the stock's price, coupled with the astonishing surge in trading volume, stems from the company's recent achievement. The company, Skipper, has secured fresh orders valued at an impressive Rs 588 crore, sourced from both domestic and international markets. Skipper, a global leader in the manufacturing of Power Transmission & Distribution structures, as well as a prominent manufacturer of Telecom and Railway structures, unveiled this significant milestone in an announcement today.
The breakdown of the orders is as follows:
- Orders in the Domestic Transmission and Distribution (T&D) business amounting to Rs 468 crores, originating from PGCIL and other esteemed customers.
- Orders in the International Transmission and Distribution (T&D) business valued at Rs 120 crores.
Mr. Sharan Bansal, Director of Skipper Limited, expressed his satisfaction, stating, "We are pleased with the influx of new orders totaling Rs 588 crores from both the Domestic and International T&D markets. The consistent inflow of orders in the T&D sector has culminated in a year-to-date total of Rs 1803 crores, signifying a remarkable 200 per cent growth compared to the same period last year. We anticipate this positive momentum to persist, with further successes in the T&D sector, both in the Domestic and International markets, on the horizon."
The stock has delivered multibagger returns in the last one year as it has jumped more than 200 per cent.
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Disclaimer: The article is for informational purposes only and not investment advice