Penny stock engaged in the business of manufacturing and selling wires, cable wires, conductors, and many more jumped 12 percent in the day’s trade upon receiving work orders worth Rs. 3.74 Crores from RMC Switchgears Limited.
With a market capitalization of Rs. 78 Crores, the shares of Marco Cables & Conductors Limited were trading at Rs. 42, up 9.52 percent from its previous day’s close price of Rs. 38.35.
Marco Cables & Conductors Limited has received a new purchase order worth Rs. 3.09 Crores from RMC Swithgears Limited for the supply of R04483/L.T. Aerial Bunched Cable and it is to be supplied within 1 month.
In Addition, it has received another work order worth Rs. 65.22 Lakhs from RMC Swithgears Limited for the supply of R04484 /AAAC 100 mm2 conductor alloys, the order is to be executed within 1 month.
Marco Cables & Conductors Limited is engaged in the business of manufacturing and selling wires, cable wires, conductors, and many more used for applications like distribution and transmission of power.
Its revenue from operations grew by 0.11 percent from Rs. 56.22 Crores in FY22 to Rs. 56.28 Crores in FY23, accompanied by increasing profits of Rs. 0.48 Crores to Rs. 3.76 Crores.
It has reported a return on equity (ROE) of 18.7 percent and a return on capital employed (ROCE) of 17.4 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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