Multibagger penny stock at Rs 11: This civil construction company bags solar PV order worth Rs 90,34,88,913 from NTPC-SAIL Power Company Limited
The stock gave multibagger returns of 161.3 per cent from its 52-week low of Rs 4.21 per share.
Madhav Infra Projects Limited (MIPL) has been awarded a contract by NTPC-SAIL Power Company Limited (NSPCL), a domestic entity, to design, engineer, procure, construct, install, commission, operate, and maintain a 15 MW floating solar photovoltaic (PV) project at the Maroda Reservoir-I in Bhilai, Chhattisgarh. The contract value is Rs 90,34,88,913 (Ninety Crores Thirty-Four Lacs Eighty-Eight Thousand Nine Hundred Thirteen) and must be completed within 12 months. This is not a related party transaction for MIPL.
Earlier, the company was awarded a contract for a solar power generation project by Gujarat Industries Power Company Limited (GIPCL). The project involves the design, engineering, supply, construction, erection, testing, commissioning and subsequent operation and maintenance of a 75 MW (AC) solar power plant at Vastan near SLPP Tal-Mangrol District, Surat, Gujarat, for a total contract value of Rs 329.73 crore. The project will be executed on an Engineering, Procurement and Construction (EPC) basis with a completion period of 330 days.
Madhav Infra Projects Limited is engaged in the business of infrastructure development and solar power generation. It is the in-house EPC arm of the Madhav group. The company has a market cap of over Rs 296.5 crore. The company announced positive numbers in its Quarterly Results (Q4FY24) and annual results (FY24).
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Today, the shares of Madhav Infra Projects Limited gained 0.18 per cent to Rs 11 per share from its previous closing of Rs 10.98 per share. The stock’s 52-week high is Rs 15 per share while its 52-week low is Rs 4.21. As of March 2024, the promoters of the company own a 68.81 per cent stake and the rest 31.19 per cent stake is owned by public shareholders. The stock gave multibagger returns of 161.3 per cent from its 52-week low of Rs 4.21 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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