Multibagger penny stock under Rs 40 hits 10 per cent upper circuit as the company receives order worth Rs 2,469.71 crore from Dakshinanchal Vidyut Vitran Nigam Ltd!
The company received total orders worth Rs 7,593.08 crore whereas its market cap is just Rs 2,208.55 crore.
GMR Power and Urban Infra Limited informed that the company’s subsidiary GMR Smart Electricity Distribution Private Limited (GSEDPL) has received a letter of intent (LOI) to implement a smart metering project in the Dakshinanchal (Agra and Aligarh zone) area of 25.52 lakh smart meters. The implementation tenure is expected to be 27 months from the date of execution of the contract and an operating period of 93 months. The total contract value (inclusive of GST) for the Agra & Aligarh Zone is about Rs 2,469.71 crore.
Earlier, the company received an order from Purvanchal Vidyut Vitran Nigam Limited to implement a smart metering project in the Purvanchal (Varanasi, Azamgarh zone and Prayagraj, Mirzapur zone) area of Uttar Pradesh. The implementation tenure is expected to be 27 months from the date of execution of the contract and an operating period of 93 months. The total contract value (inclusive of GST) for Prayagraj & Mirzapur Zone is about Rs 2,386.72 crore and for Varanasi & Azamgarh Zone is about Rs 2,736.65 crore.
The company has received total orders worth 3.44 times its current market capitalization. In other words, the company's market capitalization is just Rs 2,208.55 crore, but it has received total orders worth Rs 7,593.08 crore.
GMR Power and Urban Infra Limited (GPUIL), a subsidiary of GEPL holds expertise in the sectors of energy, urban infrastructure, and transportation. The company's sales in Q1FY24 were strong, reaching Rs 1,124 crore. However, the company still reported a net loss of Rs 218 crore. In FY23, the net sales increased by 35 per cent to Rs 5,525 crore and net profit increased by 275 per cent to Rs 1,139 crore compared to FY22.
On Wednesday, one of the Top Gainers on BSE, shares of GMR Power and Urban Infra Limited were locked in a 10 per cent upper circuit to Rs 36.59 per share from its previous closing of Rs 33.27. The stock gave multibagger returns of 111 per cent in just 3 months whereas BSE Small-Cap Index is up by 15 per cent. Investors should keep an eye on this multibagger small-cap stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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