Rs 540 crore order book and Heavy buying: Back-to-back upper circuit in this multibagger stock; bags new orders worth Rs 19 crore!

Shares of the company have gained about 60 per cent in the last six months.

Shares of Marine Electricals (India) Limited were locked in the upper circuit on Tuesday, 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 50 per cent.

Recently, Marine Electricals (India) Limited secured multiple orders totalling over Rs. 19 crore. The largest order, valued at Rs. 11.16 crore, comes from Princeton Digital Group for the supply and installation of LV Panels, with a delivery timeframe of 3-4 months. Additionally, Udupi Cochin Shipyard Limited placed an order for Navigation & Communication System Panels, to be delivered within 12 months, for approximately Rs. 8.02 Crore (excluding taxes).

This order was complemented by another from Schneider Electric India Private Limited for the supply and installation of LT Panels, with a delivery period of 3 months. These new projects highlight Marine Electricals' diverse clientele and capabilities within the electrical equipment manufacturing sector. 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 220 per cent in the last three years.

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.