1:1 bonus share & Rs 57,085 crore order book: Multibagger civil construction company bags new order worth Rs 865 crore from Vedanta Ltd
The stock gave multibagger returns of 285 per cent in just 2 years and a whopping 665 per cent in 3 years.
Power Mech Projects Limited has secured an order worth Rs 865.00 crore from Talwandi Sabo Power Limited (a subsidiary of Vedanta Limited) for the Operation and Maintenance (O&M) of their 3X660 MW supercritical thermal power plant located in Banawala village, Mansa District, Punjab. This domestic contract entails a 5-year O&M tenure starting from November 1, 2024. The scope of work involves overseeing the entire operation and maintenance of the power plant to ensure its efficient and reliable functioning.
Additionally, Power Mech Projects Ltd.’s Board announced bonus equity shares in the ratio of 1:1 i.e., 1 new fully paid-up equity share of Rs 10 each will be issued for every 1 fully paid-up equity share of Rs 10 each held by the Members as of record date. The company announced a revised record date of bonus shares to Tuesday, October 8, 2024.
Furthermore, the Board has declared a final dividend of Rs 2 per share. The ex-date for the dividend is Friday, September 28, 2024. Shareholders and beneficial owners who hold shares on Saturday, September 28, 2024, the record date, will be eligible to receive the dividend.
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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.
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 10,000 crore and as of June 30, 2024, the company’s order book stands at Rs 57,085 crore.
The stock gave multibagger returns of 285 per cent in just 2 years and a whopping 665 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.