Rs 1,375.80 crore order book: Multibagger penny stock at Rs 13.63 was locked in upper circuit on July 12; Rockets 135 per cent in just 1 year!
The stock gave multibagger returns of 135 per cent in just 1 year.
On Friday, shares of Nila Infrastructures Ltd were locked in a 5 per cent upper circuit to Rs 13.63 per share from its previous closing of Rs 12.99. The stock’s 52-week high is Rs 14.60 per share while its 52-week low is Rs 4.93. The shares of the company saw a spurt in volume by more than 2.67 times on BSE.
On March 1, 2024, the company received a Letter of Acceptance from the Gujarat Housing Board to construct and redevelop an integrated group housing facility at Indira Gandhi Colony, Kathwada, Ahmedabad. This Public-Private Partnership (PPP) project involves building 968 affordable housing units, including 484 Economic Weaker Section (EWS I) units, 242 Lower Income Group (LIG) units, and 242 Economic Weaker Section (EWS II) units, for a total development cost of approximately Rs 125.75 crore.
In place of this, the Company will receive transferable development rights valued at Rs 125.75 crore, along with revenue from the sale of an additional 649 housing units and 4,482.12 square meters of commercial space. The project, awarded to the Company as a domestic entity, will span 40 months, including a four-month pre-construction approval period.
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Nila Infrastructures Limited incorporated in 1990, is a flagship unit of the Ahmedabad-based Sambhaav Group. The company is involved in the construction of affordable housing projects, and the development of various infrastructures. The company has an order worth Rs 1,375.80 crore.
Talking about the financials, the company has a market cap of over Rs 500 crore and reported amazing numbers in its Quarterly Results (Q4FY24) and annual results (FY24). The stock gave multibagger returns of 135 per cent in just 1 year. Investors should keep an eye on this micro-cap penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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