Cable penny stock at Rs 20 in focus as company bags new orders worth Rs 7,17,00,000 from Maharashtra State Electricity Transmission Company Ltd

The stock is up by 37.6 per cent from its 52-week low of Rs 12.32 per share.

Ultracab (India) Ltd has secured an annual rate contract worth approximately Rs 7.17 Crore from Maharashtra State Electricity Transmission Company Limited (MSETCL). This contract entails the supply of 1.1 KV PVC FRLS Control Cables to various EHV PCC O&M Zones within MSETCL's network. MSETCL, responsible for transmitting electricity across Maharashtra, operates an extensive grid comprising 51518 Circuit KM of transmission lines and 742 EHV Substations.

It is a domestic order with a contractual obligation for Ultracab to complete the supply on or before October 2025. This significant achievement underscores Ultracab's position as a leading manufacturer and exporter of electric wires and cables in India, built upon a foundation of over 26 years of industry expertise and a commitment to leveraging the latest technology and advanced manufacturing processes to deliver high-quality products.

Ultracab is the leading manufacturer and exporter of electric wires and cables in India and it has grown in leaps and bounds since its incorporation. Ultracab has been working in this domain for more than 24 years. They have the latest technology and advanced machinery for manufacturing technically sound quality products. Ultracab has a very strong presence in the product segment and has prestigious corporate buyers like TATA Group, Adani Group, Jindal Group, Vedanta Group, Different departments of Indian Railways and other PSU companies like EIL, PGCIL, Railways, SAIL, BPCL, MRPL, NPCIL, BHEL and many more.

Ultracab (India) Limited has a market cap of over Rs 150 crore. According to the shareholding pattern of September 2024, the promoters own 27.89 per cent stake and the rest of the stake is owned by the general public i.e. 72.11 per cent. The stock is up by 37.6 per cent from its 52-week low of Rs 12.32 per share.

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