The stock involved in the infrastructure sector surged 5% upper circuit, hitting a 52-week high of Rs 35.32 per share. This increase followed the company board’s announcement to discuss a stock split and bonus issue in the upcoming board meeting.
On Monday at 9:25 a.m., shares of PVV Infra Ltd surged to Rs 35.32 per share, hitting the upper circuit from the previous closing price on the Stock Exchange. The company’s market capitalization stands at Rs 81.2 crore.
According to the company’s filing, a meeting of the Board of Directors is scheduled for April 29, 2024. The agenda includes considering and approving the issuance of bonus shares to the equity shareholders and discussing a proposal for the sub-division/split of the face value of the company’s equity shares.
PVV Infra Limited is an MSME operating in the infrastructure sector. The company provides services such as constructing multi-storied commercial and residential buildings, landscaping, duplex housing, and housing for EWS, low, middle, and high-income groups.
Despite a 40% decline in revenue, from ₹20.17 crores to ₹12.15 crores, PVV Infra Ltd’s net profit has surged year-on-year. It improved from a loss of ₹0.76 crores in Q4FY23 to ₹1.83 crores in Q4FY24.
Renowned clients of PVV Infra include L&T, Ncc, Ntpc, Mcl, Npcc, Coal India, and Ircon.
PVV Infra’s stock has soared by 156% over the past year. An investment of ₹1 lakh in the company a year ago would now be valued at ₹2.56 lakhs.
As per the shareholding data from December, the company’s promoters own 6.54%, foreign institutional investors hold 1.00%, and retail investors maintain a majority stake of 92.47%.
Written by Omkar Chitnis
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