Rs 54,000 crore order book: This construction company receives orders worth Rs 723.90 crore from Raichur Power Corporation & Madhya Pradesh State Mining Corporation!

The stock gave multibagger returns of 104 per cent in just 6 months and over 200 per cent in 1 year.

Power Mech Projects Limited (PMPL), one of the leading industrial services and construction company providing versatile and comprehensive services in the power and infrastructure sector, inform that the company has received the following orders worth Rs 723.90 crore.

A) Order Worth Rs 158.67 crore from Raichur Power Corporation Limited for operation and maintenance of 2x800 MW coal-based Yeramarus Thermal Power Station (YTPS) at Chikkasugur, Raichur District, Karnataka. The order will be completed within 36 months of the LOI.

B) Order worth RS 565.23 crore from Madhya Pradesh State Mining Corporation Limited for sand mining as mine developer cum operator for a period of three years in the areas of Narmadapuram -2, Raisen and Narasingpur in the State of Madhya Pradesh. These contracts would be executed through special purpose vehicles to be incorporated for the same. The order will be completed within 3 years of the LOI.

Power Mech Projects Limited has been awarded the biggest order of Rs 30,438 crore mine development and operation project by the Steel Authority of India Ltd. The project will be executed by a consortium of PMPL and PC Patel Infra, with PMPL holding a 74 per cent stake. Including all the orders, the company's order book now stands at over Rs 54,000 crore.

On Friday, shares of PMPL plunged 0.17 per cent to Rs 3.949.95 per share from its previous closing of Rs 3,956.70. The stock’s intraday high was Rs 3,990 and its intraday low was Rs 3,930.

The company has a market cap of Rs 6,074.04 crore and announced a stellar dividend of Rs 2 per share for a face of Rs 10 each. The stock gave multibagger returns of 104 per cent in just 6 months and over 200 per cent in 1 year. Investors should keep an eye on this Small-Cap civil construction company’s stock.

Disclaimer: The article is for informational purposes only and not investment advice. 

1 comments on article "Rs 54,000 crore order book: This construction company receives orders worth Rs 723.90 crore from Raichur Power Corporation & Madhya Pradesh State Mining Corporation!"

Syed Azhar ali

Stock name

8/27/2023 7:53 PM

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