This small-cap multibagger with high ROE received work order from MTDC

Achieving a staggering gain of nearly 6 per cent, reaching an impressive price of Rs 571.80

In a soaring display of financial prowess and unwavering market resilience, the Nifty index embarked on a remarkable journey. It sprang to life, defying gravity, as it opened a staggering 100 points higher, an emphatic proclamation of its strength. This meteoric rise was but a prelude to the day's dazzling performance, reaching a breathtaking intraday pinnacle of 19,850. Yet, the Nifty's grandeur didn't wane as the trading session unfolded; it settled 80 points above its daybreak, concluding its triumph at a majestic 19,812.

This awe-inspiring ascent, a true spectacle in the financial arena, marked the triumphant end of a three-day losing streak. The market was bathed in a euphoria of broad-based buying, its landscape illuminated by the radiant gains in banking giants. Moreover, the soothing descent of oil prices added an extra layer of exuberance to the market's jubilation.

Among the constellation of rising stars in the Small-Cap index, one stock shone with unparalleled brilliance – Praveg Ltd. On this remarkable day, this stock embarked on a remarkable journey of its own, defying convention and expectations, and achieving a staggering gain of nearly 6 per cent, reaching an impressive price of Rs 571.80. It all began with a modest opening at Rs 550 and a fleeting intraday low of Rs 541, but from thereon, Praveg Ltd. was destined for greatness, closing the day at an extraordinary high.

Praveg Ltd., an embodiment of opulence and ecological responsibility, announced its momentous achievement of securing a work order for the development and operation of an eco-friendly luxury resort at Kihim, Raigad, Maharashtra. This game-changing order spans an initial period of five years, extendable for an additional five. In the words of Mr. Vishnu Patel, Chairman of Praveg Limited, "We are delighted to receive the work order for developing and operating Praveg's Resort at Kihim in the Raigad District of Maharashtra." His gratitude was directed towards MTDC for their unwavering trust. With a team of seasoned experts and a treasure trove of project knowledge, Praveg Ltd. stands poised to commence operations just two months after signing the work order, promising its esteemed guests a world-class, eco-responsible hospitality experience all year round.

The canvas of Praveg's Kihim project is vast and resplendent, sprawling over 6.5 acres. Within its borders, a tapestry of 40 eco-friendly luxury resorts will unfold, complete with a conference hall, restaurant and dining facilities, indoor and outdoor recreation, yoga and ayurvedic therapies, a cultural center, and even a medical room. Kihim, a picturesque haven nestled close to the bustling cities of Mumbai and Pune, beckons with its golden sandy shores, enigmatic butterflies, and the harmonious symphony of migratory and resident birds.

This monumental addition marks the crowning glory in Praveg's portfolio, pushing their operational properties to a total of six, with an additional twelve in various stages of development. The company's vision transcends boundaries and knows no limits, as it seeks to weave more eco-responsible luxury resorts into the fabric of India's cultural landscape.

In retrospect, the stock of Praveg Ltd. has soared an astonishing 168.32 percent over the past year, rightfully earning its reputation as a multibagger stock. With a return on equity (ROE) standing tall at an impressive 43 per cent.

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