Penny stock below Rs 75: Electrical works EPC company receives order of Rs 12,60,00,000 from Larsen and Toubro
The stock is up by 20 per cent from its 52-week low of Rs 59.50 per share.
Konstelec Engineers Limited announced it received a new work order valued at Rs 12.60 crore (Basic Price) from Larsen and Toubro Limited. This order is for the completion of electrical works related to the IAVL BOOT Project at the IOCL Panipat Refinery. The company formally communicated this development by Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Earlier, the company received a work order valued at Rs 16.33 crore (inclusive of all levies and duties, but excluding GST) from Indian Oil Corporation Limited, Guwahati Refinery Division. This significant domestic contract is for Electrical & Instrumentation works for the CRU Project at the Guwahati Refinery. The project is expected to be completed within 11 months from the Notice of Award.
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Konstelec Engineers Limited, founded in 1995, is a leading EPC contractor providing comprehensive engineering, procurement, construction and commissioning services across India and globally. With expertise in electrical installations, solar power plants, instrumentation, and automation, they have successfully executed over 200 projects for clients like Reliance Industries, JSW Steel, Indian Oil and many more, solidifying their position in the industry.
The company has a market cap of over Rs 100 crore. On Wednesday, shares of Konstelec Engineers Ltd hit a 5 per cent upper circuit to Rs 71.25 per share from its previous closing of Rs 67.90 per share. The stock is up by 20 per cent from its 52-week low of Rs 59.50 per share.
Disclaimer: The article is for informational purposes only and not investment advice.