Rs 270 Crore Order Book: City Gas Distributor Bags Orders Worth Rs 44,76,88,160 From Indian Oil Corporation, Bharat Petroleum Corporation & Torrent Gas
The stock is up by 64.4 per cent from its 52-week low of Rs 160 per share.
On Tuesday, shares of Desco Infratech Limited gained 4.40 per cent to an intraday high of Rs 263 per share from its previous closing of Rs 252 per share. The stock’s 52-week high is Rs 265 per share while its 52-week low is Rs 160 per share.
Desco Infratech Limited has been awarded multiple domestic orders totalling Rs 44,76,88,160 (inclusive of GST) from major Indian energy companies, namely Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited and Torrent Gas Limited. These contracts focus on providing last-mile connectivity (LMC) and direct marketing services (DMA), along with associated works, for city gas distribution (CGD) projects across the states of Andhra Pradesh, Telangana, and Tamil Nadu, with the specific terms and execution timelines outlined within each individual contract.
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About the Company
Desco Infratech Limited, established in January 2011, operates as an infrastructure company specialising in Engineering, Planning, and Construction across various sectors including City Gas Distribution, Renewable Energy, Water, and Power. The company offers a range of services encompassing pipeline laying, installation, testing, commissioning, and operation & maintenance within these domains, catering to projects such as Piped Natural Gas (PNG) networks, power distribution cabling, water pipeline infrastructure, and foundation work for solar power projects, including collaborations with entities like Bharat Petroleum Corporation Limited and Adani Green Energy.
The company has a market cap of Rs 196 crore and its order book stands at Rs 270 crore. The shares of the company have a PE of 22x, an ROE of 36 per cent and an ROCE of 31 per cent. The stock is up by 64.4 per cent from its 52-week low of Rs 160 per share.
Disclaimer: The article is for informational purposes only and not investment advice.