440 per cent returns & 52-week high alert: This multibagger cable manufacturing company bags new orders worth Rs 27,42,32,033 from PVVNL and DVVNL!
The stock gave multibagger returns of 440 per cent from its 52-week low of Rs 36.90 per share.
V-Marc India Ltd informs that the company has bagged orders worth Rs 27,42,32,033.24 from Purvanchal Vidyut Vitran Nigam Limited (PVVNL) and Dakshinanchal Vidyut Vitran Nigam Limited (DVVNL). Details of LOI below:
- Supply of LT AB Cable Size 3×120+1×95+1×16 Sq.mm for Rs 14,11,32,033.24 (Rupees fourteen crore eleven lakh thirty-two thousand thirty-three and paisa twenty-four only) from PVVNL.
- Supply of LT AB Cable 3C×120+1×95+1×16 sq. mm for Rs 6.98 crore (Rupees six crore ninety-eight lakh only) from DVVNL.
- Supply of 11 KV 3×185 Sq.mm XLPE AI cable (armoured) for Rs 6.33 crore (Rupees six crore thirty-three lakh only) from DVVNL.
V-Marc India Ltd is in the business of manufacturing and sales of various kinds of wires and cables. The company has been manufacturing wires and cables under the V-MARC brand since 2006.
On Friday, shares of V-Marc India Ltd gained 5 per cent upper circuit to Rs 199.65 per share from its previous closing of Rs 190.15. The stock also made a new 52-week high of Rs 199.65 per share with 2,11,000 qunatity traded. At the closing bell, shares of the company ended the trading session hitting a 5 per cent lower circuit to Rs 180.65 per share.
Talking about the financials, V-Marc has a market cap of Rs 412 crore. According to the half-yearly results, the net sales increased by 212.5 per cent to Rs 175 crore and net profit increased by 500 per cent to Rs 6 crore in H1FY24 compared to H1FY23. In FY23, the net sales increased by 38 per cent to Rs 247 crore and net profit increased by 100 per cent to Rs 10 crore compared to FY22.
The stock gave multibagger returns of 440 per cent from its 52-week low of Rs 36.90 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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