Multibagger Penny Stock Under Rs 65 Hit Upper Circuit & 52-Week High: Watch Out for This Major Development

From Rs 19.78 per share (52-week low) to Rs 60.07 per share, the stock gave multibagger returns of 203.7 per cent.

On Monday, shares of Sindu Valley Technologies Limited hit a 2 per cent upper circuit to Rs 60.07 per share from its previous closing of Rs 58.90 per share. The stock also made a new 52-week high of Rs 60.07 per share while its 52-week low is Rs 19.78 per share.

Sindu Valley Technologies Limited was originally incorporated as Jhunjhunu Investments Limited in 1976 and changed its name to Sindu Valley Technologies Limited in 2000. In 2023, Mr Jahidmohmed H. Vijapura, JHV Commercials LLP, and Mrs Husena Musamji acquired a majority stake in the company and are interested in developing business related to infrastructure, energy, water, buildings and industrial projects.

Name Change Update: The Company, formerly known as Sindu Valley Technologies Limited, has successfully undergone a name change. The Extraordinary General Meeting held on November 19, 2024, authorized this change to GHV Infra Projects Limited. Subsequently, the Central Processing Centre (CPC) approved the application for this name change and issued a new Certificate of Incorporation on December 2, 2024, officially recognizing the Company's new identity.

Order Update: The Company has recently secured two significant subcontracts. Firstly, it has been awarded a contract by GHV-MHK JV for the Engineering, Construction, and Commissioning of an Electric Loco Unit in Gujarat, valued at approximately Rs 125 crore. This project involves the construction of a manufacturing unit, offices, administrative buildings, and infrastructure, along with MEP and finishing works. Secondly, the Company has received a subcontract from GHV (India) Private Limited for Road Construction in Indapur, Maharashtra, worth approximately Rs 38 crores. Both projects are expected to be completed within a 6-month timeframe.

The company has a market cap of Rs 4.20 crore with a 73.55 per cent stake owned by promoters and the rest 26.45 per cent stake owned by public shareholders. From Rs 19.78 per share (52-week low) to Rs 60.07 per share, the stock gave multibagger returns of 203.7 per cent. Investors should keep an eye on this multibagger penny stock.

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