Keep this multibagger penny stock below Rs 30 under the radar as the stock rocketed 10 per cent from its intraday low with heavy volume!
The stock gave multibagger returns of 210 per cent from its 52-week low of Rs 9.59 per share.
On Friday, shares of Jyoti Structures Limited hit a 5 per cent upper circuit to Rs 29.75 per share from its previous closing of Rs 28.34. The stock’s 52-week high is Rs 34.05 per share while its 52-week low is Rs 9.59 per share.
Earlier, Jyoti Structures Ltd secured an Rs 117.74 crore order from Adani Energy Solutions Limited for the construction and partial supply of a 765kV D/C transmission line spanning approximately 111 kilometers in Gujarat. This project, part of the Khavda Phase IV-Part A initiative, is scheduled for completion by October 31, 2025. The company confirms no related party interests in the awarding entity and that the order does not fall under related party transaction regulations.
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.
Results: The net sales increased by 131 per cent to Rs 128.96 crore and net profit increased by 1,207 per cent to Rs 14.12 crore in Q4FY24 compared to Q3FY24. In its annual results, the net sales increased by 96.9 per cent to Rs 451.38 crore in FY24 compared to Rs 229.23 crore in FY23. The company reported a net profit of Rs 28.86 crore in FY24 compared to a net loss of Rs 4.07 crore in FY23, an increase of 809 per cent.
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Rights Issue Update: Jyoti Structures Limited's recent Rights Issue was a resounding success, with investors subscribing to it 2.07 times over. This means the company received applications for Rs 361.66 crore worth of shares, exceeding the targeted issue size of Rs 174.63 crore. Jyoti Structures will retain the targeted amount and refund the excess to investors. This strong investor response has increased the company's number of shares by over 11.64 crores and its paid-up share capital by Rs 23.28 crores. The company expressed gratitude to its shareholders for their support in this growth initiative.
Jyoti Structures Ltd has a market capitalization of over Rs 2,500 crore. The stock gave multibagger returns of 210 per cent from its 52-week low of Rs 9.59 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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