Low PE multibagger penny stock at Rs 72.75: This electrical equipment company bags new order worth Rs 20,93,26,922 from Adani Group
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 36.25 per share.
Power & Instrumentation (Gujarat) Ltd (PIGL) has been awarded a contract worth Rs 20,93,26,922 (approximately $2.5 million) to develop a substation for Terminal 2 of the Sardar Vallabhbhai International Airport in Ahmedabad. This project is a collaboration between PIGL and Ahmedabad International Airport Ltd., which is part of the Adani Group.
The contract entails the complete development of the substation according to the agreed-upon specifications. PIGL will be responsible for delivering the completed project within four months from the effective date, which commenced on May 7, 2024. This signifies a swift completion timeframe, ensuring the project adheres to the set timeline. This development is expected to significantly enhance the airport's infrastructure and improve its operational efficiency.
Also Read: Rs 4,700 crore order book & FIIs increase stake: Heavy buying in this multibagger railway telecom stock; Bags order from Central Warehousing Corporation 3 days ago!
Power & Instrumentation (Gujarat) Ltd, founded in 1975, is a one-stop shop for all your electrical needs. They specialize in designing, installing, maintaining, and repairing electrical systems for industrial and commercial clients. Their services include substations, transformers, generators, power distribution panels, lighting systems, and backup power solutions. They've worked with a wide range of clients in sectors like government, healthcare, telecom, and major corporations.
Today, the shares of the company surged 2 per cent to Rs 72.75 per share from its previous closing of Rs 71.35. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 36.25 per share. The shares of the company have a PE of 20x whereas the industry PE is 50x.
Disclaimer: The article is for informational purposes only and not investment advice.
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