Multibagger from its 52-week low: This micro-cap engineering company receives order worth Rs 25.19 crore from Tata Projects Ltd!

The stock gave multibagger returns of 124.68 per cent from its 52-week low of Rs 62 per share.

On Wednesday, shares of Artson Engineering Ltd gained 2 per cent upper circuit to Rs 139.30 per share from its previous closing of Rs 136.90. The stock’s 52-week high is Rs 207.45 and its 52-week low is Rs 62.

The sudden rise in the stock price was due to Artson Engineering Ltd informing that the company received an order confirmation of Rs 25.19 crores (Approximately Rupees Twenty-Five Crores Nineteen Lakhs Only) from Tata Projects Ltd. The order includes the fabrication of structures for the AMNS project on a conversion basis and will be completed within 12 months from LOI.

Earlier, the company announced its stellar Quarterly Results wherein the net sales increased by 12 per cent to Rs 41.89 crore, and operating profit increased by 336 per cent to Rs 3.91 crore and the net profit increased by 120 per cent to Rs1.03 crore in Q1FY24 over Q1FY23.

In the previous quarter of the year, Artson Engineering received orders for the supply of pressure vessels and erection and commissioning spare worth Rs 14.49 crore. In January 2023, the company also received an order for engineering equipment installation and commissioning works at GRSE worth Rs 17.16 crore. These orders are a testament to the company's expertise in the engineering and construction sector

Artson Engineering is an EMC contracting company founded in 1978 in Hyderabad. It provides services in pressure equipment manufacturing, bulk liquid storage farms, industrial piping, etc. The company has a market cap of over Rs 500 crore with an ROE of 115 per cent.

The stock gave multibagger returns of 124.68 per cent from its 52-week low of Rs 62 per share. Investors should keep an eye on this micro-cap stock under the radar.

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