On Thursday this micro-cap stock gains more than 15% after it received an order worth Rs. 26.53 Cr. On the same day, the stock reached a new 52-week high of Rs. 90.80. It delivered 68% returns in six months and 80% returns in one year. The stock is trading 32% and 46% above the 50-day and 200-day moving averages.
RKEC Projects Limited
The company has a market capitalization of Rs. 215 Cr making it a micro-cap company. On Thursday the stocks climbed more than 15%, at 11:30 p.m., shares were trading 13.8% up at Rs. 89.20 on NSE.
As per the company filing, RKEC – Suryadevara Joint Venture, received a work order for Tender No. E-05-Central-BZA -2023. SW-I: Provision of Premium Modular Toilets separately for Gents, Ladies, Divyangjan and Waiting Hall in Bapatla Railway Station under ABS Scheme.
SW-II: Provision of Premium Modular Toilets separately for Gents, Ladies, Divyangjan and Waiting Hall in Chirala, Tenali, and Eluru Railway Station under ABS Scheme and SW-III: Vijayawada Division-Provision of Improvement to platform surface at Eluru, Chirlala, Bapatala and Tenali Railway station under ABS Scheme in DEN/Central/BZA Jurisdication.
The order is worth Rs. 26.53 Cr and the project will be executed in 9 months.
The company’s total revenue increased by 17% from Rs. 46.6 Cr in Q1 FY23 to Rs. 38.6 Cr in Q1 FY24 and for the same period, net profit grew by 287% from Rs. 0.72 Cr to Rs. 2.79 Cr.
As per the latest shareholding information, Promotes hold 73.99% and the public hold a 26.02% stake in the company.
RKCE Projects Ltd the company provides infrastructure development and construction services. Its primary business was civil construction, such as the construction of highways, roads, and bridges.
Written by Sheshadri N
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.
