Multibagger Penny Stock Under Rs 30 Locked In Upper Circuit As Company Bags Order Worth Rs 15,30,00,000
The stock gave multibagger returns of 124.33 per cent from its 52-week low of Rs 12.37 per share.
On Thursday, shares of Neo Infracon Ltd were locked in a 5 per cent upper circuit to Rs 27.75 per share from its previous closing of Rs 26.43 per share. The stock also made a new 52-week high of Rs 27.75 per share while its 52-week low is Rs 12.37 per share.
The sudden rise in the stock price was due to the company receiving a construction contract/work order of Rs15.30 crore for the construction of the New Building with all civil work building construction activities at Mumbai.
Neo Infracon Ltd is a real estate development company established in 2002. As a member of the Neo Group, it primarily focuses on residential property development in Mumbai. The company has a portfolio of notable projects, including Neo Galaxy, Neo Logistics Park, Neo Ornate and Neo Akashdeep. Other significant developments include Neo Pearl, Neo Residency, Neo Amity, and Neo Clarissa. The company reported mixed sets of numbers in its Quarterly Results (Q1FY25) and annual results (FY24).
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The company have a market cap of Rs 14.73 crore and promoters have increased their stake to 58.05 per cent in September 2024 compared to 57.08 per cent in June 2024. The stock gave multibagger returns of 124.33 per cent from its 52-week low of Rs 12.37 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.