This Penny Stock hit its 5% upper circuit within 15 minutes of markets opening on Wednesday, making it the third consecutive day it hit the upper circuit. Throughout the week, the company saw 1.3x avg last week volumes and continues to make new 52 week highs, currently ~300% away from 52 week low.
The company is engaged in consulting and has a market cap of Rs. 30 crore. The stock currently trades 8% above its 20 day moving average and 16% above its 200 day moving average. The stock closed at Rs. 81.02 up from Rs. 77.17 on Tuesday.
DMR Hydroengineering & Infrastructures Ltd (“DMR”) stated in a filing dated 12th September 2023 that it has received a work order on September 12, 2023 for Prebid Engineering Services for In-stream storage structure (‘ISS’) at Khairamal across river Mahanadi in Odisha. The project is set to be completed in 180 days and is worth Rs. 10 lakh.
Earlier this month, the company said in a filing dated 1st September 2023 that it received an order for Detailed Design and Engineering Services for Sabarmati Dam Project of Water Resources Department located at Zone – Jodhpur, Rajasthan. This project is to be completed in 3 years and is worth Rs. 1.7 crore.
DMR is a 3 month, YTD and 1 year multibagger, returning 111%, 148% and 266% respectively. Meaning if you invested Rs. 1 lakh into DMR at the start of 2023, it would have returned Rs. 2.48 lakh by now. The stock was listed fairly recently in December 2021 and has shown considerable results in the past two fiscal years.
Revenue growth was 24% YoY from Rs. 3.5 crore in FY22 to Rs. 4.4 crore in FY23. Net Profits also grew 13% YoY from Rs. 0.7 crore to Rs. 0.8 crore, indicating margin expansion of 172 bps. DMR Hydroengineering & Infrastructures operates as an engineering consulting company in India and abroad.
Written by Sandeep R.
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