Shares of infrastructure soared 5 percent upper circuit to Rs 37.05 apiece after the company received an order worth Rs 188 crores.
Niraj Cement Structurals Ltd, a micro-cap stock with a market valuation of Rs 148 crore, touched a 5 percent upper circuit on the Exchange on Wednesday for Rs 37.05 per share.
According to the company’s exchange filings, The company has received a work order from Indian Port Rail & Ropeway Corporation Ltd. for the construction of an interchange cum road over a bridge on NH41 (Phase – l) in the state of Gujarat under EPC mode for the worth Rs 188.88 Crores.
The Company’s revenue climbed by 24 percent year on year, rising from Rs 80 crore in Q1FY23 to Rs 99 crore in Q1FY24. During the same time period, net profit fell from Rs 0.61 crore to Rs 0.36 crore.
Company shares have delivered a return of 34 percent in six months and 15 percent in last year.
According to the latest shareholding pattern, the promoters own 24.26 percent of the company, while retail investors hold 75.74 percent.
Niraj Cement Structurals Ltd is engaged in the business of construction of projects with end-to-end solutions across domains such as transportation, urban infrastructure, BRTS projects, industrial infrastructure, and irrigation. They also offer technical and financial support to subcontractors.
Written by Omkar Chitnis
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