SME micro-cap stock below Rs 200 locked in upper circuit: Company bags new order worth Rs 9.9 crore from Hindustan Petroleum Corporation Ltd
On February 15, 2024, Rudra Gas Enterprise share price listed at Rs 119.70 on BSE SME, 90 per cent higher than issue price of Rs 63.
Today, Rudra Gas Enterprise Ltd opened at Rs 194.90, throughout the trading session, the stock maintained its upward trajectory. The session concluded with the stock closing at Rs 194.90, reflecting a significant gain of 9.28 points or 5 per cent from the previous day's close. The stock remained locked into the upper circuit throughout the day due to a bagging order.
Rudra Gas Enterprise Ltd to announced the acquisition of two substantial orders from Hindustan Petroleum Corporation Limited, totalling Rs. 9.96 crores, exclusive of taxes.
The first order entails the laying of PE pipe networks and associated works, including last mile connectivity and direct marketing agency services for PNG connections across Banka, Dumka, Godda, Jamtara, Pakur, and Sahibganj districts of Bihar and Jharkhand.
The second order involves similar tasks in Dausa, Karauli, Sawai Madhopur, and Tonk districts of Rajasthan. These contracts signify Company's continued expansion and commitment to delivering efficient energy solutions in diverse geographical regions.
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On February 15, 2024, Rudra Gas Enterprise share price listed at Rs 119.70 on BSE SME, 90 per cent higher than issue price of Rs 63. Rudra Gas Enterprise IPO GMP or grey market premium was 57, indicated a strong listing.
This is a micro-cap stock with a market capitalization of Rs 163 crore, the stock having reached a 5-week high of Rs 195 and low of Rs 120. Company’s price is relatively higher trading at 46.3x earning per share.
The company demonstrates impressive returns on capital employed (ROCE) at 29.6 per cent. Moreover, boasting a remarkable return on equity (ROE) of 56.4 per cent.
Rudra Gas Limited is active in gas distribution network projects, fiber cable networks, construction equipment, and vehicle rental.
Disclaimer: The article is for informational purposes only and not investment advice.