Multibagger stock below Rs 10: This micro-cap company receives order worth Rs 24.69 crore!
The shares of the company were locked in a 20 per cent upper circuit on Friday.
On Friday, the benchmark indices ended the day high with BSE Sensex Index up 0.20 per cent at 62,028. In the broader market, BSE Mid-Cap Index is down by 0.33 per cent and BSE Small-Cap Index is down by 0.10 per cent.
Despite being a mixed market, shares of Sharika Enterprises Ltd were locked in 20 per cent upper circuit to Rs 6.50 per share being one of the Top Gainers on BSE. The stock has a 52-week high of Rs 14.80 and a 52-week low of Rs 4.21.
The sudden rise in the stock price is due to the order received by the company from LS Cable India Private Limited. The order includes the supply of OPGW (48 Fiber) aggregating to a total quantity of 2,000 km. The order is worth Rs 24.69 crore which will be completed in 6 months from LOI.
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Sharika Enterprises Ltd is in the business of management consultancy & project execution services in the power sector. The shares of the company saw a spurt in volume by more than 7 times on BSE.
The stock gave multibagger returns of 115 per cent in just 3 years. Investors should keep an eye on this micro-cap stock.