139 per cent returns: Heavy buying in this multibagger micro-cap stock as company receives order worth Rs 9.81 lakh; Board likely to announce dividend!
The stock is up by 90 per cent in just 6 months and gave multibagger returns of 139 per cent in 1 year.
On Friday, shares of DMR Hydroengineering & Infrastructures Ltd jumped 5 per cent upper circuit to Rs 62.20 per share from its previous closing of Rs 59.24. The stock also traded at a new 52-week high of Rs 62.20 per share.
In the recent trading sessions, the stock is hitting back-to-back upper circuits and 52-week highs. At the closing bell, shares were trading at Rs 60.01 per share, up 1.30 per cent with a spurt in volume by more than 4.38 times on BSE.
The sudden rise in stock price is due to the company receiving a new order worth Rs 9.81 lakh from Indian Renewable Energy Development Agency Limited (IREDA). The order includes the 24 MW Aniyur Hole Small Hydro Project (SHP) located in Karnataka. The order will be completed in 3 months from LOI.
Additionally, the Board of Directors of the company will be holding a meeting on Tuesday, July 25, 2023, to recommend the final dividend for the financial year ended March 31, 2023 and a proposal for fundraising by way of the issue of equity shares through preferential allotment on a private placement basis.
DMR Hydroengineering & Infrastructures is engaged in providing engineering consultancy and due diligence services to hydropower, dams, roads, and railway tunnels.
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According to the financials, DMR has a market cap of Rs 22.36 crore. The company reported positive numbers in its Quarterly Results and annual results. Furthermore, the company has significantly reduced its debt burden. The current debt of Rs. 0.51 crore is only 2.28 per cent of its current market cap, which means that the company is almost debt-free.
The stock has a PE of 19x whereas the sectoral PE is 38.10x. The stock is up by 90 per cent in just 6 months and gave multibagger returns of 139 per cent in 1 year. Investors should keep an eye on this micro-cap stock.