This Low-Priced Gem Jumped with Six Consecutive Orders in 2 Weeks, Locked in Upper Circuit Today!
These are major orders for the company and it will help to strengthen their position as one of the leading electrical equipment manufacturers in India.
On November 21, 2023, Marine Electricals (India) Limited received an order amounting to Rs 16.50 crore from Princeton Digital Group, Mumbai. This was to supply and install low-tension panels on a project known as WALTZ MU01. The project is located in Navi Mumbai, India. Delivery of the order will be complete in 3 months.
On November 18, 2023, Marine Electricals reported the receipt of an order from Garden Reach Shipbuilders & Engineers Ltd., Kolkata, for the supply of B&D spares for the IBS of ASWSWC, amounting to Rs 21.08 crore. The delivery shall be completed over a period of two years. The company has also received an order from Goa Shipyard Limited, Goa, for the installation of various electrical equipment for PCVs Yard 126, amounting to Rs 2.26 crore, with a delivery timeline of two years.
Before the above orders, the company had already secured another order from Princeton Digital Group, Mumbai, for the supply of LV panels on November 15, 2023. An order was worth Rs 5.05 crore. The delivery period was the same as the recent order: 3 months.
On November 10, 2023, Marine Electricals (India) Limited received an Rs 8.94 crore order from Goa Shipyard Limited, Vasco-Da-Gama Goa, for the supply of an integrated machinery control system (IMCS). The delivery period will be over a period of one year.
On November 6, 2023, the company announced receiving an order worth Rs 15.75 crore from Larsen & Toubro (L&T), Chennai, for the supply, supervision of installation, testing, and commissioning of LV panels. The delivery of the said goods shall be made over a period of five months.
These are major orders for Marine Electricals (India) Limited, and they will help strengthen their position as one of India's leading electrical equipment manufacturers. All orders above are excluding GST.
Stock Performance
The stock of Marine Electricals is trading at Rs 88.70 and locked in the 5 per cent upper circuit on Tuesday. The stock price is also trading near its all-time high and may break the same trend in the coming trading sessions.
Over the past month, Marine Electricals has delivered stronger performance, delivering a noteworthy return of 17.02 per cent. This positive trend extends over the last three months, with an impressive growth rate of 36.46 per cent. Year-to-date, the stock has exhibited exceptional strength, yielding a remarkable return of 175.04 per cent.
About Company
Marine Electricals (India) Limited is a company that specializes in the manufacture and supply of electrical equipment.
Disclaimer: The article is for informational purposes only and not investment advice.
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