Multibagger from its 52-week low: Micro-Cap marvel hits upper circuit with over Rs 300 crore worth of project wins!

After hitting a lower circuit at Rs 47.26 per share on April 17, 2023, the stock has now rebounded impressively, surging to the upper circuit today.  

On Thursday, one of the Top Gainers on BSE, shares of S & T Corporation Ltd jumped 5 per cent upper circuit to Rs 54.36 per share from its previous closing of Rs 51.78. After hitting a lower circuit at Rs 47.26 per share on April 17, 2023, the stock has now rebounded impressively, surging to the upper circuit today.  

One of the contributing factors behind the stock's transition from the lower circuit to the upper circuit is the company receives multiple development & redevelopment projects of over 300 crore. Details below:   

Development Projects: Several development projects are underway in different locations in Navi Mumbai. These projects involve the construction of plots in different sections, such as Section 7, Section 26 (2 projects) and Section 25A. The construction areas range from approximately 6,800 square feet to 74,250 square feet. Estimated revenues from these projects vary from Rs 4 crore to Rs 52 crore. The total of development projects is worth Rs 96 crore.

Redevelopment Projects: Several redevelopment projects are underway in different locations in Navi Mumbai. Redevelopment projects of Pitruchaya at Dadar, Dr Keni House at Sion, Anubhav Park Chs at Ghatkopar and Om Chetan Chs at Ghat have an estimated revenue of Rs 68 crore and Rs 81 crore respectively. The total redevelopment projects are worth Rs 267 crore.  

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S & T Corporation Ltd, Incorporated in 1984, is engaged in the business of construction and textiles. The company reported a positive number in its annual results (FY23).   

The stock gave multibagger returns of 374 per cent from its 52-week low of Rs 11.47 per share. This micro-cap should be kept under the radar.