Penny stock under Rs 70 jumps over 10 per cent as this railway infra company bags new order worth Rs 1,29,97,300.74 from Eastern Railway

The company has a market of over Rs 120 crore with a PE of 17x whereas the industry PE is 34 per cent.

Manglam Infra & Engineering Limited was awarded a contract (Tender No. 03-WT-DCE-I-ASN-ER-24-25) by the Eastern Railway for railway infrastructure projects in India. This includes conducting surveys, preparing designs and documents, and creating EPC tender documents for several railway lines totalling 87.27 kilometres. The project value is Rs. 1,29,97,300.74 and must be completed within 8 months.

Additionally, was declared the Lowest Bidder (L1) for a contract to conduct a balance final location survey for the 4th line between the Dholpur-Bina section of the North Central Railway. The contract, awarded by the North Central Railway, involves surveying the section and designing a detour/bypass around the city of Gwalior. The project value is Rs 10,922,282.87 and must be completed within 6 months.

Manglam Infra & Engineering Ltd is a leading infrastructure company that provides a wide range of services, including design, engineering, procurement, construction and project management. With a strong focus on highways, bridges, tunnels and urban buildings, the company has completed numerous projects across various regions of India. Their expertise and commitment to quality have made them a trusted partner in the infrastructure development sector.

On Thursday, shares of Manglam Infra & Engineering Limited jumped 10 per cent to an intraday high of Rs 71 per share from its previous closing of Rs 64.45. The company has a market of over Rs 120 crore with a PE of 17x whereas the industry PE is 34 per cent.

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