Shares of this waste management stock under the ‘small-cap’ category rose nearly 3 percent in Thursday’s trading session after the company successfully secured an order worth Rs 34.68 crores in the state of Uttar Pradesh (UP).
With a market capitalization of Rs3,014.21 crores, the stocks of EMS Limited opened their trading hour on Thursday at Rs 554.15 and closed at Rs 542.80, gaining nearly 3 percent compared to the previous closing levels of Rs 527.80 apiece.
Such bullish stock price behavior was witnessed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), intimated that it emerged as the lowest (L1) bidder for an order worth Rs 34.68 crores from ‘U.P Jal Nigam’ based in Meerut, Uttar Pradesh.
The order pertains to the construction of a proposed multi-level car parking at the Nagar Nigam Office in the state. Though with a limited financial history of consolidated financials, the company reported an increase in both the prime business indicators such as operating revenues as well as after-tax profits.
The former rose from Rs 137 crores during Q1FY23-24 to Rs 210 crores during Q2FY23-24, and the latter, keeping the timeframe the same, more than doubled from Rs 22 crores to Rs 45 crores.
According to the shareholding pattern data for the quarter ended December 2023, the company’s Promoters hold a 69.7 percent stake, and the Foreign Institutional Investors (FIIs) hold a 4.09 percent stake in the company.
Founded in 1998, EMS Limited is an India-based company that is associated with the business of constructing, designing, and installing water, wastewater, and domestic waste treatment facilities. The company offers turnkey services in water and wastewater collection, treatment, and disposal.
Written by Amit Madnani
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.
