Multibagger under Rs 50: Receives Rs 12 crore LOI for commercial project; Bulk deal completed!

Vaishnavi Chauhan
/ Categories: Trending, Multibaggers
Multibagger under Rs 50: Receives Rs 12 crore LOI for commercial project; Bulk deal completed!

The stock has achieved multibagger status, delivering an exceptional return of over 150 per cent over the last one year

Founded in 2007, Shashijit Infraprojects Limited specializes in the construction of residential, industrial, commercial, and institutional buildings.

The company announced that it has been awarded a Letter of Intent (LOI) for the construction of a Commercial Building by M/s Shree Hari Developers. As a prominent player in the construction industry in South Gujarat, Shashijit Infraprojects Limited is honored to receive this LOI for the development of a prestigious Commercial Building valued at approximately Rs 12 Crore.

This achievement represents a significant milestone for Shashijit Infraprojects Limited, reaffirming their unwavering commitment to delivering high-quality construction services while contributing to the growth and advancement of the construction sector in the region.

Upon receiving this notification, Mr. Ajit Jain, Chairman & Managing Director, expressed his enthusiasm, stating, "I am thrilled to announce that Shashijit Infraprojects Limited has been awarded this significant project by Shree Hari Developers. It marks another remarkable milestone in our journey. This achievement underscores our steadfast commitment to excellence and our capability to consistently deliver outstanding results. Let us collaborate effectively to transform this opportunity into a resounding success. I have complete confidence in the capabilities and dedication of our team. Together, we shall make this project an exemplary representation of what Shashijit Infraprojects Limited stands for – quality, innovation, and excellence."

On September 20, 2023, Malti Salvi engaged in a bulk deal, purchasing 215,468 shares at a price of Rs 40.56 per share. Additionally, on the same date, SW Capital Private Limited conducted a bulk deal, buying 175,000 shares at the same price of Rs 40.56 per share.

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Today, the shares of Shashijit Infraprojects Limited plunged by 3.52 per cent. Furthermore, the scrip witnessed a spurt in volume by more than 3.47 times. The company's current market capitalisation is Rs 41.96 crore.

With a price below Rs 50, Shashijit Infraprojects presents an affordable investment opportunity for investors interested in the civil construction sector. This affordability factor may attract investors looking to diversify their portfolio at a reasonable cost.

In addition to this, the stock has achieved multibagger status, delivering an exceptional return of over 150 per cent over the last one year.

Disclaimer: The article is for informational purposes only and not investment advice.

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