444 per cent returns & 52-week high alert: This multibagger cable manufacturing company bags new orders worth Rs 60,00,000 from Purvanchal Vidyut Vitran Nigam Ltd

The stock gave multibagger returns of 444 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 60,00,000 from Purvanchal Vidyut Vitran Nigam Limited (PVVNL). The order includes supply of 11 KV H.T. XLPE Cable 3×185 sq. mm for Rs 30.91 crore and the supply of 33 KV H.T. XLPE Cable 3×300 Sq.mm for Rs 29.09 crore.

Earlier, the company received orders worth Rs 27.42 crore from Purvanchal Vidyut Vitran Nigam Limited (PVVNL) and Dakshinanchal Vidyut Vitran Nigam Limited (DVVNL). The orders include the supply of LT AB Cable Size 3×120+1×95+1×16 Sq.mm for Rs 14.11 crore, LT AB Cable 3C×120+1×95+1×16 sq. mm for Rs 6.98 crore, and 11 KV 3×185 Sq.mm XLPE AI cable (armoured) for Rs 6.33 crore.

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.

Today, shares of V-Marc India Ltd surged 5 per cent to Rs 200.65 per share from its previous closing of Rs 191.1 per share. The stock also made a new 52-week high is Rs 200.65 per share.

Talking about the financials, V-Marc has a market cap of Rs 457.2 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 444 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.