Stock under Rs 5: This small-cap civil construction company with Rs 110.26 crore m-cap bags order worth Rs 91.07 crore from Western Railway!
The new order could be a turnaround for the company, and bagging order from western railway is a positive sign for the company.
Madhav Infra Projects Limited informed in the exchange filing that the company received of letter of acceptance from Western Railway through Dy. Chief Engineer (Construction) Ill, Vadodara ("the Authority"). The total cost of the work at the accepted rate works out to Rs. 91,07,14,176.07.
The order involves earthwork in a bank, cutting in all kinds of soil, soft rock, hard rock, and blanketing for formation, yards, trolley refugees & bridge approaches, etc., and construction of minor bridges, RUBs, side drains, toe walls, retaining walls and protection works, etc. between Dekakund to Tanda Road stations of Alirajpur - Tanda road section in connection with the construction of new BG line between Chhotaudepur Dhar.
Madhav Infra Projects Limited is engaged in the business of infrastructure development and solar power generation. It is the in-house EPC arm of the Madhav group. The company is also a developer-cum-operator of solar power projects and undertakes O&M of road, solar, and hydropower projects.
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On Friday, the stock opened at Rs 4.19, with a high and low of Rs 4.19 and Rs 4.02. The stock closed currently trading at Rs 4.09, down by 0.73 per cent over its previous close of Rs 4.12.
The new order could be a turnaround for the company and investors should keep a close eye on this stock.