On Wednesday’s early trade, the shares of this infrastructure company rose around 10 percent to a 52-week high price of Rs 48.49 per share after the company received a work order worth Rs 210.98 crore.
At 1:15 p.m. Niraj Cement Structurals Ltd shares were trading at Rs 47 a share, up 5.78 percent from the previous close price on the National Stock Exchange. The company has a market capitalization of Rs 187 crore.
Niraj Cement Structurals Limited received a work order from Jawaharlal Nehru Port Trust for the gradation of Roads and Drainage systems outside the bound Area in J N Port Navi-Mumbai through an Engineering Procurement and Construction (EPC) mode for a value of Rs 210.98 Crores excluding GST. The completion period is 24 months. The company reported in its exchange filing.
Niraj Cement Structural’s share has risen 49 percent in the last six months and 52 percent in a year.
Recently, the company has received four work orders totaling Rs 164 crore from Indian Railways. The contracts include the construction of good circulating areas, a road over the bridge in Maharashtra, a passenger circulating area, and the execution of civil engineering work for a Metro Railway project.
The company’s revenues have gained by 4 percent year on year from Rs 106 crore in Q2FY23 to Rs 110 crore in Q2FY24, while net profit has increased from Rs 0.80 crore to Rs 0.85 crore during the same period.
Niraj Cement Structurals Ltd is in the business of civil construction and infrastructure projects that provide end-to-end solutions in areas such as transportation, urban infrastructure, BRTS projects, industrial infrastructure, and irrigation.
As of FY 22-23, the company’s net profit margin stands at 0.71 percent and operating margin of 1.96 percent.
Since Niraj Cement stock falls under the category of penny stocks. However, penny stocks exhibit inconsistent performance, are rarely traded, and only a small number of trades might trigger a circuit limit. We suggest individual investors do extensive research before investing and stocks exhibit a high level of risk to individual investors.
Written by Omkar Chitnis
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