The realty stock that engaged in the infrastructure business hit a 5 percent upper circuit to an intraday high of ₹40.97 per share after the company acquired land in New Delhi to expand its operations.
On Thursday’s early trade, Newtime Infrastructure Ltd. hit a 5 percent upper circuit to ₹41 a share on the Bombay Stock Exchange. The company belongs to the micro-cap category of stock with a market capitalization of ₹ 698 crores.
According to the company’s exchange filing, Newtime Infrastructure Ltd has acquired approximately 19.60 acres of land located in Village-Mitroan, Tehsil-Najafgarh, Distt.-South West, New Delhi from Aryahi Buildwell Private Limited. This acquisition is intended to facilitate the expansion of its real estate operations, and the transaction was valued at ₹10.40 crore.
Newtime Infrastructure specialises in real estate development projects nationwide in India. The company handles orders in the residential, commercial, and retail sectors. Its operations cover all stages of real estate development, including land identification and acquisition, project planning, design, marketing, and execution.
Newtime Infrastructure Ltd’s stock has surged a multibagger return of 294 percent over the past six months and 241 percent over the past twelve months. For instance, if an investor had put ₹1 lakh into the company a year ago, it would now be valued at ₹3.94 lakhs.
In the recent shareholding pattern, the company’s promoters maintain a 70.02 percent stake, while Foreign Institutional Investors hold a 2.89 percent stake, and retail investors possess a 27.09 percent stake.
As for financial metrics, the company reported a current ratio of 20.27 and a gross profit margin of 49.53 percent, alongside an operating margin of 49.17 percent for the fiscal year 2022-2023.
Written by Omkar Chitnis
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