In Friday’s trading session, the shares of a company engaged in the business of providing infrastructural and utility services surged by nearly 5 percent to hit a new 52-week high at Rs. 104.85 on BSE, after the company received two work contracts worth a total of Rs. 8.05 crores.
With a market capitalisation of Rs. 61.4 crores, at 11:41 a.m., the shares of Abhishek Integrations Limited were trading in the green at Rs. 102, up by 2.1 percent, as against its previous closing price of Rs. 99.9.
What’s the News:
According to the latest regulatory filings with the NSE, Abhishek Integrations Limited (AIL) has been ranked as L-1 for two significant work contracts.
Visakhapatnam Airport: AIL secured the L-1 ranking for the contract titled “ARMO of Electrical and Mechanical Installations 2024-25,” which includes the operation and maintenance (O&M) of Electrical and Mechanical (E and M) installations at both the Terminal Building and Operational areas. The total contract value for this project is ~Rs. 2.7 crores.
B.P.I Airport, Bhubaneswar: AIL has also achieved the L-1 ranking for the “Annual Maintenance Job Contract” covering a period of two years.
This contract involves the maintenance of existing E and M installations across the Domestic Terminal T-1, International Terminal T-2, Link Building, and its Power House at B.P.I Airport. The total value of this contract is Rs. 5.35 crores.
Previous News:
On 25th July, Abhishek Integrations received an award letter worth Rs. 1.43 crores for the work contracts for the Bi-Annual O&M contract for the E and M Installations, WTP etc. at Birsi Airport, Gondia for the year 2024-26.
On 9th August, AIL secured a work contract worth Rs. 2.92 crores for assistance in the O&M works in fuel, material handling, and technical services systems of the reprocessing facility, Tarapur.
Financials:
Financially, the company experienced significant growth in its revenue
from operations, showing a year-on-year rise of nearly 13.3 percent from Rs. 22.5 crores in FY22-23 to Rs. 25.5 crores in FY23-24.
Similarly, its net profit decreased during the same period from Rs. 0.67 crores to Rs. 0.77 crores, indicating a growth of 15 percent YoY.
About the company:
Incorporated in 2017, Abhishek Integrations Limited is mainly engaged in three business segments: providing infrastructural & utility services, trading in coal and trading in electrical goods and all other activities surrounding these segments.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
