Railway Penny Stock Under Rs 100 Hit Upper Circuit After Bagging Order Worth Rs 69,98,50,537.49 From Western Railways, Indian Railways
The stock’s 52-week high is Rs 97.85 and its 52-week low is Rs 92.03.
A B Infrabuild Limited has secured a significant contract from Western Railways, Indian Railways, for the rebuilding of FOBs, Elevated Deck, Skywalk connection, and extension of the Harbour Line between Goregaon and Borivali stations in Maharashtra. This project aligns with the company's strategic focus on infrastructure development and underscores its commitment to delivering quality solutions. The contract, valued at Rs 69,98,50,537.49, is expected to be completed within 24 months. This development is a testament to the company's strong track record and its ability to secure prestigious projects.
A B Infrabuild Limited's Board of Directors has approved a rights issue of fully paid-up equity shares to existing shareholders, not exceeding Rs 40 crore. This decision was made following the Companies Act, 2013, SEBI regulations, and other applicable laws. A Rights Issue Committee has been formed to finalize the terms and conditions of the issue, including the issue size, entitlement ratio, price, record date, and other relevant details.
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A B Infrabuild Ltd is a leading civil construction company, specializing in a wide range of infrastructure projects. With certifications in OHSAS 18001, ISO 14001, and ISO 9001, the company is committed to quality and safety. Their services encompass railways, bridges, roadways, dams, canals, and repair work. They have successfully executed numerous projects for government agencies and private clients, contributing to the development of urban and rural infrastructure.
On Wednesday, shares of A B Infrabuild Ltd hit a 2 per cent upper circuit to Rs 95.47 per share from its previous closing of Rs 93.60 per share with a spurt in volume by more than 5 times. The stock’s 52-week high is Rs 97.85 and its 52-week low is Rs 92.03. The company has a market cap of Rs 475 crore and investors should keep an eye on this railway penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.