Multibagger stock below Rs 50 secures Rs 313 crore order- Keep on radar for tomorrow!
The company's total order book as of date stands at Rs. 2402 Crores approximately, excluding GST
Tuesday's trading session saw the Nifty open higher at 17060 and maintain an upward trend, despite volatility, to reach an intraday high of 17128. The recovery in global counterparts and rally in banking and financial services supported the market's upward momentum, which erased the previous day's losses and ended on a positive note. However, the Nifty still traded within a range below 17200, which could be a crucial resistance area in the near future.
On the daily chart, the Nifty formed a decent bullish candlestick pattern, following the formation of a Hammer in the previous session, suggesting a bullish outlook for the market. Moreover, the Midcap and Small-Cap indices also witnessed buying interest, advancing by 0.59 and 0.66 per cent, respectively.
Among the Small-cap segment, B.L. Kashyap & Sons Ltd. stood out as it jumped 3.29 per cent to Rs 31.4. However, what was even more interesting was the post-market announcement made by the company. It revealed that it has secured a new order from the domestic unrelated client 'Railways Land Development Authority' worth Rs. 313 Crores approximately, excluding GST. The project is expected to be completed within 15 months, and the company's total order book as of date stands at Rs. 2402 Crores approximately, excluding GST.
B.L. Kashyap & Sons Ltd. has proven to be a multibagger stock, advancing 27 per cent in the last one-year and a jaw-dropping 747 per cent in the last three years. This new order could further boost the stock's performance and generate interest from investors.