Shares of this Ashish Kacholia stock jumped approximately 3 percent in Wednesday’s trading session after the company bagged an order worth Rs 106.12 crores from “Hindustan Petroleum Corporation Limited” (HPCL).
With a market capitalization of Rs 993.94 crores, the stocks of Likhitha Infrastructure Limited started their trading session on Wednesday at Rs 249.65 and currently trade at Rs 251.95, gaining around 3 percent as compared to the previous closing levels of Rs 244.10 apiece.
Such bullish share price movements were observed today after the company, through a recent regulatory filing with the Bombay Stock Exchange (BSE), intimated that it has bagged an order from “Hindustan Petroleum Corporation Limited” (HPCL) worth Rs 106.12 crores.
The abovementioned order pertains to the laying as well as construction of ‘steel pipeline’ along with other associated works for the ‘Haldia Panagarh Pipeline’ Project. The same is a domestic order with an execution period of 15 months.
Mr. Ashish Kacholia, one of the well-known ace investors based in India, holds a stake in Likhitha Infrastructure Limited. As per the latest shareholding pattern data for the December 2023 quarter, he holds 7 lakh equity shares of the company equivalent to a 1.77 percent stake.
During the recent financial quarters, the company’s basic business indicators, including its operating revenues as well as after-tax profits, showed some marginal up movements with the former jumping from Rs 100 crores during Q2FY24 to Rs 101 crores during Q3FY24 and the latter, during the same period, rose from Rs 15 crores to Rs 16 crores.
In addition, the company’s ratio analysis portrays return ratios being reported at decent numbers during FY23 with the return on equity (RoE) reported at 24.01 percent and the return on capital employed (RoCE) at 31.90 percent.
As per the latest presentations, the company’s outstanding order book stands at approximately Rs 1,595 crores, nearly 75 percent attributed to the cross-country pipeline projects and the remaining share to the city gas distribution & tankages.
Incorporated in 1998, Likhitha Infrastructure Limited is engaged in the business of laying, erection, and commissioning of oil and gas pipelines in India. The company also provides cross-country pipelines and underground pipelines, including associated mechanical, structural, electrical, and telecom works.
Written by Amit Madnani
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