Rs 540 crore order book and 300 per cent multibagger returns in a year: Back-to-back upper circuit in this defence stock; bags new order worth Rs 50 crore!

Shares of the company gained more than 140 per cent in the last six months.

Shares of Marine Electricals (India) Limited were locked in the upper circuit on Friday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained more than 140 per cent.

Recently, Marine Electricals (India) Limited secured a new order valued at Rs 50 crore from DC Development Hyderabad Ltd. This project involves supplying FIM LV Panels and Skid for the HYD20 expansion (DC 2 & 3) with a total capacity of 28.8 MW. The delivery timeline for this project is set at 20 months, indicating a long-term collaboration between the two companies. This win strengthens Marine Electricals' position in the electrical equipment supply segment and signifies their contribution to power infrastructure projects. The company has an order book of Rs 540 crore as of December, 2023.

Marine Electricals (India) Limited primarily provides customised electrical solutions to the marine and non-marine sectors. The company offers integrated and multidisciplinary total solutions that lead to better business processes and more efficiency for customers and the customers they, in their turn, serve. The company serves the market in diversified areas like Ship Building, Navy, Industries, Commercial Establishments. The shares of Marine Electricals (India) Limited have also delivered multibagger returns of over 300 per cent in the last one year.

The stock has shown tremendous growth, and investors should keep a close eye on this stock.

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