Multibagger Penny Stock Under Rs 65 With 1,300 Per Cent Returns Hit Upper Circuit; Here’s Why
The stock is up by 72.22 per cent from its 52-week low of Rs 36.36 per share and gave multibagger returns of 1,300 per cent in 5 years.
On Monday, shares of MBL Infrastructure Ltd hit a 5 per cent upper circuit to Rs 62.62 per share from its previous closing of Rs 59.64 per share. The stock’s 52-week high is Rs 85 and its 52-week low is Rs 36.36 per share. The shares of the company saw a spurt in volume by more than 3.90 times on BSE.
The Company has secured a significant victory in its ongoing legal battle. The Learned Arbitral Tribunal has awarded the Company Rs 68.75 crores (plus applicable taxes and interest) against the Public Works Department, Government of Uttarakhand. This award pertains to the 'Improvement and Strengthening of Roads in the District of Udham Singh Nagar (Package No. C-2)' project in Uttarakhand. This latest win adds to the Company's growing list of arbitration successes, with total awards received amounting to Rs 245.75 crores.
The Company remains committed to resolving disputes amicably while prioritizing long-term relationships with its clients. The recent implementation of the Package/Resolution Plan and the subsequent upgrade of the Company's financial status have paved the way for renewed business activity. With access to working capital and improved credit facilities, the Company is poised to actively participate in bidding processes and secure new projects that align with its profitability objectives.
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About MBL Infrastructure Ltd
MBL is engaged in the execution of civil engineering infrastructure projects: Roads & Highways (Construction, BOT, O&M), Building, Housing & Urban Infrastructure, Railways/Metro and Other Infrastructure PAN India. The Company is professionally managed by a qualified and experienced team. It owns a large fleet of construction Equipment. It engages in its mechanized stone aggregating quarrying and crushing to ensure an economic and timely supply of bulk raw material stone aggregates.
MBL has two operational BOT projects through its wholly owned subsidiary companies (a) Suratgarh-Bikaner National Highway Project in the state of Rajasthan and (b) Waraseoni Lalbarra Road in the state of Madhya Pradesh.
The company has a market cap of Rs 750 crore. The stock is up by 72.22 per cent from its 52-week low of Rs 36.36 per share and gave multibagger returns of 1,300 per cent in 5 years. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.