In Friday’s morning trading session, the shares of a micro-cap stock surged by 7.2 percent on NSE to hit an intraday high at Rs. 146.8, after the company received a Letter of Award (LoA) worth around Rs. 17.3 crore.
At 11:25 a.m., the shares of Akanksha Power and Infrastructure Limited were trading in the green at Rs. 139, up by 1.5 percent, as against its previous closing price of Rs. 136.95, with a market cap of Rs. 257.4 crore.
What’s the news:
Akanksha Power and Infrastructure informed the National Stock Exchange (NSE) regarding the Letter of Award (LoA) received from Megha Engineering & Infrastructures Limited. The total value of the project is Rs. 17.27 crore (inclusive of 18% GST).
The order is for the manufacturing and supply of 11kV Metering Cubicles with current and voltage transformer, and the time period by which the order is to be executed is within one year.
Previous Order:
Earlier on 17th March, Megha Electrical Services and Akanksha Power & Infrastructure Limited, in a joint venture partnership, received a LoA worth Rs. 126 crore from Maharashtra Industrial Township Limited.
The contract involved power distribution work and associated activities in Maharashtra, including metering, billing and collection, O&M of electrical network, MBC activities, installation of AMR smart metering infrastructure, and establishment of a billing and analytics system with a customer care system and related work.
Financial Performance & Shareholding Pattern:
In terms of financials, the revenue from operations stood at Rs. 56.53 crore in Q4 FY23-24, rising by 22.6 percent YoY from Rs. 46 crore in Q4 FY22-23, and the net profit grew by 2.8 percent to Rs. 2.91 crore from Rs. 2.83 crore, during the same period.
As per the shareholding pattern of March 2024, the Promoters hold a 60.81 percent stake in the company, Foreign Institutional Investors (FII) hold an 8.42 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 26.42 percent and 4.35 percent stake in Akanksha Power and Infra, respectively.
About the company:
Incorporated in 2008, Akanksha Power and Infrastructure Limited is a manufacturer of electrical equipment such as electrical panels, instrument transformers, vacuum contactors and capacitor switches.
It also provides services related to the distribution and management of power along with managing electrical distribution networks for the distribution companies (DISCOMs).
Further, the company is also engaged in turnkey projects involving supply, installation, erection, commissioning, and maintenance of electrical infrastructure up to 33 KV, managing greenfield LED streetlights and technical operation and maintenance of one of the electrical divisions located in Odisha.
Written by Shivani Singh
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