Civil Construction Penny Stock Under Rs 40 Jumps After Bagging Rs 59,73,48,444.24 Order from Sabarkantha Gram Panchayat, Himatnagar
The company have a market cap of Rs 58 crore with promoters holding a 74.59 per cent stake and the public holding a 25.41 per cent stake.
Akash Infraprojects Limited has received a work order from the Office of the Sabarkantha Gram Panchayat, Himatnagar, amounting to Rs 59,73,48,444.24/- (Rupees Fifty-nine Crore Seventy-Three Lakh Forty-Eight Thousand Four Hundred Forty-Four and Paise Twenty-Four Only) for construction, widening, strengthening and resurfacing of various road as and when required or in emergency under Sabarkantha District.
On Thursday, shares of Akash Infra-Projects Limited gained 2.07 per cent to Rs 34.45 per share from its previous closing of Rs 33.75 per share with an intraday high of Rs 36.40 per share and an intraday low of Rs 32 per share. The stock’s 52-week high is Rs 50.60 per share and its 52-week low is Rs 28.72 per share.
Akash Infraprojects Ltd, established in 1999, is a prominent player in the civil construction industry. The company specializes in a wide range of construction projects, including roads, buildings, bridges, culverts, dams, and godowns. With a strong focus on quality and timely delivery, Akash Infraprojects has successfully executed numerous projects for government bodies and private clients alike.
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The company's expertise lies in civil construction, particularly road construction and rehabilitation. Akash Infraprojects holds a significant position in the Gujarat market, having secured numerous contracts from esteemed government agencies such as the Ahmedabad Municipal Corporation (AMC), Ahmedabad Urban Development Authority (AUDA), Road and Building Departments (R&B) of the Gujarat Government, and Gandhinagar Urban Development Authority (GUDA). To support its operations, the company has invested in state-of-the-art infrastructure, including bitumen material mix facilities and CC paver manufacturing facilities. This robust infrastructure enables Akash Infraprojects to efficiently execute large-scale projects and meet stringent quality standards.
The company have a market cap of Rs 58 crore with promoters holding a 74.59 per cent stake and the public holding a 25.41 per cent stake. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.