Cable penny stock at Rs 20 in focus as company received approval of Larsen & Toubro Limited
The stock is up by 16 per cent from its 52-week low of Rs 11.99 per share.
Ultracab India Ltd has solidified its position as a leading Indian manufacturer and exporter of electric wires and cables by securing a prestigious approval from Larsen & Toubro Limited (L&T). This significant achievement allows Ultracab to supply its products to L&T's diverse portfolio of ongoing projects and business ventures. L&T, a multinational conglomerate with operations in over 50 countries, is a key player in various sectors, including industrial technology, heavy industry, engineering, and construction. Securing their approval underscores Ultracab's commitment to quality and reliability, demonstrating its ability to meet the stringent standards of a global industry leader.
The approval grants Ultracab access to deliver its products across a wide range of L&T's projects, spanning critical infrastructure and industrial sectors. These include Defence Installations, Digital Energy Solutions, Minerals & Metals, Hospitals, Housing, Hydel Projects, Metros, Nuclear Plants, Office Spaces, Power Transmission & Distribution Infrastructure, Public Spaces, Renewables, Smart World Solutions, Transportation, Underground Structures, and Unique Structures, and Water Infrastructure. This extensive reach signifies a major expansion of Ultracab's market presence and reinforces its role as a key supplier for major infrastructure and development projects.
Earlier, Ultracab (India) Ltd. has been awarded a substantial annual rate contract valued at approximately Rs 7.17 crore by Maharashtra State Electricity Transmission Company Limited (MSETCL), mandating the supply of 1.1 KV PVC FRLS Control Cables to various EHV PCC O&M Zones within MSETCL's extensive network, which includes 51518 Circuit KM of transmission lines and 742 EHV Substations across Maharashtra; this domestic order requires Ultracab to complete delivery by October 2025, highlighting the company's established reputation as a prominent Indian manufacturer and exporter of electric wires and cables, supported by over 26 years of industry experience and a focus on advanced manufacturing processes.
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About the Company
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 26 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 160 crore. According to the shareholding pattern of December 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 16 per cent from its 52-week low of Rs 11.99 per share.
Disclaimer: The article is for informational purposes only and not investment advice.