On Friday, the shares of the infrastructure development company rose around 2 percent to Rs 52.20 a share after the company received an order from the National Highways Authority of India.
At 12:30 p.m., Dhruv Consultancy Services Ltd shares were trading at Rs 52 a share on the National Stock Exchange, up 1.86 percent, with a market capitalization of Rs 79 crores.
According to the Company’s exchange filing, The company received a Letter of Award from the National Highways Authority of India for providing Consultancy Services for an Independent Engineer Services for the Supervision of the Development of a Six Lane Controlled Greenfield Highway from Chandrasekharapuram to Muppavaram of Bengaluru-Vijayawada Economic Corridor on HAM Mode under Bharatmala Pariyojana Phase – 1 in the State of Andhra Pradesh. The contract length would be 48 months for an order costing Rs. 9,36,23,500/-.
The company reported a 36 percent reduction in revenue for the June quarter, to Rs 11.32 crore, from Rs 17.66 crore in the corresponding previous year’s quarter (Q1FY23). During the same time period, the company’s net profit increased to Rs 0.89 crore from Rs 0.45 crore.
As per the latest shareholding pattern, the promoters hold 62.62 percent of the company, and retail investors hold 37.33 percent.
Dhruv Consultancy Services is a project management consultancy firm in the field of infrastructure development projects, primarily in the public sector.
Penny stocks are illiquid in nature, even a small number of orders may cause a circuit limit. Individual investors must do extensive research on high-return penny stocks before purchasing them since they lack consistency in performance and pose a high risk to retail investors.
Written by Omkar Chitnis
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