Upper Circuit & 52-Week High Alert: Gas Engineering Company Bags Order Worth Rs 11,86,52,601 From Bharat Petroleum Corporation Ltd

The stock is up by 32.4 per cent from its 52-week low of Rs 160 per share.

On Tuesday, shares of Desco Infratech Limited hit a 5 per cent upper circuit to Rs 211.85 per share from its previous closing of Rs 201.80 per share. The stock’s 52-week high is Rs 211.85 per share while its 52-week low is Rs 160 per share.

Desco Infratech Limited hereby announced the receipt of a Letter of Award from Bharat Petroleum Corporation Limited for a project valued at Rs 11,86,52,601 (Rupees Eleven Crore Eighty-Six Lakh Fifty-Two Thousand Six Hundred One Only). This domestic order entails Last Mile Connectivity (LMC) & Direct Marketing Services (DMA) activity and associated works for City Gas Distribution (CGD) in Bahraich and is expected to be executed within a timeframe of 14 months.

Desco Infratech Limited, established in January 2011, operates as an infrastructure company specializing in Engineering, Planning, and Construction across various sectors including City Gas Distribution, Renewable Energy, Water, and Power. The company offers a range of services encompassing pipeline laying, installation, testing, commissioning, and operation & maintenance within these domains, catering to projects such as Piped Natural Gas (PNG) networks, power distribution cabling, water pipeline infrastructure, and foundation work for solar power projects, including collaborations with entities like Bharat Petroleum Corporation Limited and Adani Green Energy.

The company has a market cap of Rs 163 crore. The shares of the company have a PE of 47x, an ROE of 41 per cent and an ROCE of 41 per cent. The stock is up by 32.4 per cent from its 52-week low of Rs 160 per share. Investors should keep an eye on this stock.

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