Penny Stock Under Rs 80: Marine Infrastructure Company Receives Rs 86,86,29,596.84 Order from Hindustan Shipyard Ltd
The stock is up by 22.4 per cent from its 52-week low of Rs 60.61 per share.
RKEC Projects Limited has been awarded a Letter of Intent from Hindustan Shipyard Limited (HSL) for a significant contract valued at Rs 86,86,29,596.84 (Rupees Eighty Six Crore Eighty Six Lakh Twenty Nine Thousand Five Hundred Ninety Six and Eighty-Four Paise only), inclusive of GST. This contract entails the "Refurbishment and upgradation of outfitting jetty, crane track and services at HSL," marking a notable achievement for RKEC Projects in the infrastructure and marine sectors.
Incorporated in 2005, RKEC Projects Limited operates within the civil and defence construction sectors, bringing a substantial 39 years of experience to the industry. The company has cultivated a strong reputation for its commitment to delivering high-quality projects across a diverse range of infrastructure, including buildings, highways, marine works, and bridges. Their expertise extends to the construction of critical infrastructure such as bridges, ports, dams, high-rise structures, airports, roads, oil and gas pipelines, and environmental structures, showcasing their comprehensive capabilities in the field.
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RKEC Projects offers a broad spectrum of services encompassing marine and offshore structures like jetties, berths, wharves, and breakwaters, as well as the construction of various types of roads and bridges, including major and minor bridges and specialised girders. Their building and infrastructure division handles civil works for power and refinery projects, port development, transmission lines, sports complexes, and heavy RCC and steel structures. Additionally, they provide electrification services, including rural and high/low tension works. Their clientele includes prominent government and private entities such as the Military Engineer Services (MES), Directorate General of Naval Projects (DGNP), Defence Research and Development Organisation (DRDO), National Highways Authority of India (NHAI), Indian Railways, and major ports and industrial companies.
The company has a market cap of Rs 178 crore. On Wednesday, shares of RKEC Projects Ltd hit a 5 per cent upper circuit to Rs 74.17 per share from its previous closing of Rs 70.64 per share. The stock’s 52-week high is Rs 148.50 per share and its 52-week low is Rs 60.61 per share. The stock is up by 22.4 per cent from its 52-week low of Rs 60.61 per share.
Disclaimer: The article is for informational purposes only and not investment advice.