On Tuesday this penny stock gains more than 4% after the company received multiple orders worth Rs. 201.79 Cr from NF Railways. The stock has delivered 23% returns in six months and 22% returns in one year. Currently, the company shares are trading above the both 20-day and 200-day moving averages.
Niraj Cement Structural Limited
It is a penny stock with a market value of Rs. 150 Cr. On Tuesday the stock gains over 4%, at 13:45 p.m., shares were trading 3.6% up at Rs.38 on NSE.
According to the NSE filing, Niraj Cement Structural Ltd- Babulnath JV has received work multiple work orders from NF Railway.
Order for Manufacturing, Supplying & Loading of 198000 cum Machines Crushed Stone Ballst of approved quality at Chongajan Station Yard/Depot and Loading into Wagon/Hoppers etc. for a construction project. The order value is Rs. 48.33 Cr. The order will be implemented in 24 months.
Order for Earthwork for Railway Embankment, Construction of Minor Bridges, Blanketing, RCC Drain & Connected Works between New Bongaigaon (NBQ) DL Section of New Bongaigon (NBQ)-Agthori (AGT) BG Doubling Project. The order value is Rs. 77.38 Cr. In 18 months the order will be executed.
Order for Manufacturing, Supplying & Loading of 20000 cum Machines Crushed Stone Ballst of approved quality at Amoni Station Yard/Depot and Loading of Wagon/Hoppers for construction project. The order value is Rs. 46.82 Cr. In 24 months the order will be implemented.
In addition, the company- Niraj Azamul Hoque JV has received wor order for Balance earthwork in cutting to form formation and earthwork in filing to form embankment/sub-bank and construction of minor bridges, retaining walls, pucca approach road to alignment and other ancillary work between Ch Km 8.00 to Km 12.00 and Br. No. 37 at Ch 13.831 Km, Construction of ROB No. 18 Km 6.1 including other ancillary works in between station Bairabi and Hortoki with the construction of new BG Railway line from Bairabi to Sarangi. The order value is 29.26 Cr. The order will be implemented in 15 months.
The company’s total revenue grew by 24% from Rs. 81.03 Cr in Q1 FY23 to Rs. 100.9 Cr in Q1 FY24 and the company’s net profit declined by 42% from Rs. 0.61 Cr in Q1 FY23 to Rs. 0.35 Cr in Q1 FY24.
As per the latest shareholding data, Promoters hold 24.26% and the Public hold a 75.74% stake in the company.
Niraj Cement Structurals Ltd. is a company operates in the infrastructure business. The company builds highways, bridges, water supply and drainage systems, irrigation, land stormwater drainage, and other infrastructure projects.
Disclaimer: Due to the low liquidity of Penny stocks, even a minor rise in the volume of buy orders can cause the stock to reach its upper circuit. Even if the stock prices are within the normal buying range for retail investors and represent a significant upside, Penny stocks provides significant dangers to retail investors.
Written by Sheshadri N
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