Low PE penny stock under Rs 85: This micro-cap company receives orders worth Rs 253.51 lakh from National Highways Authority of India
The stock is up by 41.6 per cent from its 52-week low of Rs 57.15 per share.
Artefact Projects Limited announced that the Company has been awarded a significant project: Supervision Consultancy during the O&M period of the four-lane Talaja-Mahua-Kagvadar section of NH-8E (New NH-51) from Km 53.585 to Km 139.915 (Design chainage from Km 54.990 to Km 140.470) in the state of Gujarat (Pkg-II and Pkg-III). This project will be executed in association with Manglam Infra and Engineering Limited.
The award was received through the Letter of Award (LOA) issued by the National Highways Authority of India (NHAI). The awarded project encompasses Supervision Consultancy services during the O&M period of the specified highway section. The Company's contracted fees for this project are approximately Rs 253.51 Lakh excluding GST. This project marks a significant achievement for Artefact Projects Limited and further solidifies the Company's position as a leading provider of engineering and consultancy services in the infrastructure sector.
Incorporated in 1987, Artefact Projects Ltd is engaged in the project consultancy business in India. The company has a market cap of Rs 56.2 crore and reported positive numbers in its Quarterly Results (Q2FY25) and half-yearly results (H1FY25). The stock is trading at 0.92 times its book value and has delivered good profit growth of 31.6 per cent CAGR over the last 5 years.
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On Wednesday, shares of Artefact Projects Ltd gained 4.60 per cent to Rs 80.90 per share from its previous closing of Rs 77.35 per share. The stock’s 52-week high is Rs 111 per share and its 52-week low is Rs 57.15 per share.
The shares of the company have a PE of 10x whereas the industry PE is 33x. The stock is up by 41.6 per cent from its 52-week low of Rs 57.15 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.