Penny stock under Rs 30 jumps after bagging order worth Rs 1,01,08,000 from Government of Assam

The company has a market cap of Rs 45.60 crore and the stock is up by 30 per cent from its 52-week low of Rs 20 per share.

Manglam Infra & Engineering Limited (Formerly Known as Manglam Associates) has received an Offer Letter for the “Preparation of Detailed Project Report (DPR), Technical Sanction Documents, Tender Document BOQ for Roads and Bridges to be proposed under PMGSY-IV”. The total contract price for this domestic project, awarded by the Government of Assam, Office of the Chief Engineer, Public Works Roads Department Assam, is Rs 1,01,08,000 (Rupees One Crore One Lakh Eight Thousand only). The company is required to complete the work within 30 days from the date of the notice to proceed.

Incorporated in 2010, Manglam Infra & Engineering Limited specialises in managing infrastructure projects. The company provides a comprehensive range of services, including design, engineering, procurement, construction, and integrated project management for various infrastructure developments such as highways, bridges, tunnels, and urban buildings. Their offerings also encompass DPR and feasibility studies, operations and maintenance, project management consultancy, independent consultancy, project planning, designing, estimation, supervision and quality control, authority engineer supervision, independent engineer services, traffic and transportation engineering, financial analysis, technical audits, structural audits, and inspection of bridges and roads.

On Tuesday, shares of Manglam Infra & Engineering Ltd jumped 3.60 per cent to Rs 25.90 per share from its previous closing of Rs 25 per share. The company has a market cap of Rs 45.60 crore and the stock is up by 30 per cent from its 52-week low of Rs 20 per share.

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