Penny stock at Rs 65.53 hit upper circuit as company bags orders worth Rs 149.31 crore and emerges at lowest bidder for orders worth Rs 1,057.3 crore in State of Karnataka

The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 31 per share.

Order 1: Water Supply Scheme

Udayshivakumar Infra Limited has secured a significant order under AMRUT 2.0 for improving water supply in Hangal and Yallapur towns in Karnataka. In partnership with Kevadiya Construction Private Limited, the joint venture has won the bid for the project, valued at Rs 119.78 crore. The project will be executed under the Design, Build, Operation, and Transfer (DBOT) model, ensuring long-term sustainability and efficient operation. The joint venture will be responsible for the design, construction, operation, and maintenance of the water supply system for a period of five years. The project will utilize the Bommanahalli pickup dam as the source of water supply.

Order 2: Performance Based Maintenance Contract

Udayshivakumar Infra Limited has also won a performance-based maintenance contract (PBMC) for a stretch of NH-52 in Vijayapura Division, Karnataka. The contract, valued at Rs 29.53 crore, involves the maintenance of a 51.675-kilometer section of the highway. The company will be responsible for ensuring the road's structural integrity, safety, and serviceability throughout the contract period. This order highlights Udayshivakumar Infra Limited's expertise in road maintenance and infrastructure management.

Lowest Bidder Orders

In addition to the above contracts, Udayshivakumar Infra Limited has formed three joint ventures with KMC Construction Limited to bid for National Highway projects in Karnataka under the EPC mode. All three joint ventures have successfully secured the lowest bidder (L1) status for the following projects:

• Widening of NH 69: This project involves widening a section of NH 69 from Honnavar to Chittoor to four lanes. The contract value is Rs 366.19 crore.
• Widening of NH 150A: This project involves widening a section of NH 150A near Nelligere to two lanes. The contract value is Rs. 299.19 crore.
• Widening of NH-548B: This project involves widening a section of NH-548B near Murgundi and Chikkodi. The contract value is Rs. 391.92 crore.

These projects collectively represent a total contract value of Rs 1057.3 crore. Udayshivakumar Infra Limited's success in securing these orders demonstrates its strong competitive position in the infrastructure sector and its ability to deliver high-quality projects.

About the Company

Udayshivakumar Infra Ltd is a leading civil construction company established in 1995. With a focus on industrial and infrastructure projects, they specialize in high-altitude road projects, canal projects, bridge projects, irrigation works and building projects. The company is certified for quality management (ISO 9001), environmental management (ISO 14001), and occupational health and safety (ISO 45001). Additionally, Udayshivakumar Infra Ltd is involved in the manufacturing of ready-mix concrete. Their primary operations are concentrated in Karnataka, where they have successfully executed numerous projects for government departments and agencies.

On Monday, shares of Udayshivakumar Infra Ltd were locked in a 5 per cent upper circuit to Rs 65.53 per share from its previous closing of Rs 62.41 per share. The company has a market cap of Rs 362.8 crore. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 31 per share. Investors should keep an eye on this penny stock.

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

1 comments on article "Penny stock at Rs 65.53 hit upper circuit as company bags orders worth Rs 149.31 crore and emerges at lowest bidder for orders worth Rs 1,057.3 crore in State of Karnataka"

Saroj Shakti Singh

Very nice 👌 👍

9/10/2024 8:50 AM

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