Ashish Kacholia’s portfolio multibagger penny stock under Rs 25 has been pre-qualified to bid for a transmission line project by Kenya Transmission Company Ltd

The stock gave multibagger returns of 299 per cent from its 52-week low of Rs 5.87 per share.

Jyoti Structures Limited (JSL) was pre-qualified by Kenya's Kenya Transmission Company Limited (KETRACO) to bid on a new 88 km, 132 kV transmission line project between Narok and Bomet. This turnkey project, funded by the African Development Bank, requires a qualified EPC (Engineering, Procurement, and Construction) company. JSL's experience with similar projects in Kenya, along with their extensive in-house capabilities and resources, impressed KETRACO during the pre-qualification process. This project marks JSL's return to the international turnkey market, and bids are due on April 25, 2024. With KETRACO prioritizing a 12-month completion timeframe, JSL is a strong candidate given their proven track record in Kenya. They boast over 31,000 circuit kilometres of transmission lines built worldwide, including projects up to 765 kV, 1,800 substations constructed, and over 37,325 villages electrified.

Today, shares of Jyoti Structures Limited surged 2.56 per cent to Rs 23.25 per share from its previous closing of Rs 22.67 with an intraday high of Rs 23.40 and an intraday low of Rs 22.74. The stock’s 52-week high is Rs 34.08 per share while its 52-week low is Rs 5.87 per share. An Indian ace investor, Ashish Kacholia has expressed confidence in the future of a stock by purchasing 1,80,00,000 warrants for Rs 13.20 each, at a total cost of Rs 23.76 crore.

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Established in 1974, Jyoti Structures Limited is a leading power transmission company headquartered in Mumbai, India. They specialize in turnkey projects for transmission lines, substations and distribution systems, offering a comprehensive range of services from design and manufacturing to construction globally. Jyoti Structures Limited is one of the few EPC service providers with the capability to execute entire power transmission projects.

Jyoti Structures Ltd has a market capitalization of over Rs 1,900 crore. The stock gave multibagger returns of 299 per cent from its 52-week low of Rs 5.87 per share. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.