Stock below Rs 50: This small-cap company receives multiple orders worth Rs 36.24 crore!
The stock is up by 40 per cent in just 1 month.
Marine Electricals (India) Limited informed the exchange (NSE Script Code: MARINE) that it has received orders amounting to total of Rs 36.24 crore (excluding taxes), the details of the same are mentioned under:
1. Order received from GE Energy Power Conversion UK Ltd for the supply of 690V Switchboards amounting to Rs 6.84 crore approx. excluding taxes). The delivery of the said goods shall be made over a period of 7 months.
2. Order received from Grasim Industries Limited (Birla Paints) for supply and installation of IMCC Panels for Birla Paints Cheyyar & Chamrajanagar site amounting to Rs 11.50 crore (excluding GST). The delivery of the said goods shall be made over a period of 4 months.
3. Order received from Tata Projects Limited for the supply of HT Panels for Tata Power Solar Project at Tirunelveli amounting to Rs 17.90 crore (excluding GST). The delivery of the said goods shall be made over a period of 4 months.
Marine Electricals (India) Limited is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. The company reported amazing numbers in its Quarterly Results and annual results.
On Friday, shares of Marine Electricals plunged by 3.34 per cent to Rs 46.30 with an intraday high of Rs 48.80 and an intraday low of Rs 46.
The stock gave 40 per cent returns in just 1 month. Investors should keep an eye on this Small-Cap stock.