On Wednesday, penny stock hit a 5 percent upper circuit after receiving two orders worth Rs 9.96 crore from Hindustan Petroleum Corporation Ltd. The stock has delivered 63 percent returns in one year.
With a market capitalization of Rs 162.51 crore, Rudra Gas Enterprise Ltd. stock began its trading session at a higher note of Rs 194.90 per share, hitting a 5 percent upper circuit from its previous close of Rs 185.62 per share to a 52 week high of Rs 194.91 per share.
Rudra Gas Enterprise Ltd. received two orders from Hindustan Petroleum Corporation Ltd. worth Rs 9.96 crore. The order has to be executed within 18 months.
The first order deals with the laying of the PE pipe network and associated works, along with last-mile connectivity and a direct marketing agency for PNG connections in geographical areas of Bihar. The second order deals with geographical areas of Rajasthan.
On a yearly basis, the prime business indicators, such as revenue from operations, of the company increased by 13 percent from Rs 44 crore in FY22 to Rs 49 crore in FY23. Similarly, the net profits increased by 97 percent from Rs 1.79 crore to Rs 3.52 crore during the same period.
Considering the key financial metrics, return on equity stands at 56.4 percent and return on capital employed stands at 29.6 percent in trailing twelve months (TTM)
The shareholder pattern shows that 73.04 percent is held by the promoters, followed by 26.79 percent by the public, 0.09 percent by foreign institutional investors, and 0.07 percent by domestic institutional investors.
Rudra Gas Enterprise Ltd. is an indian based company founded in 2015 and engaged in the business of engineering, planning, and construction. The company has a pan India presence across 10 states and 1 union territory. Apart from the utility business, the company is also engaged in real estate, hardware, and trading.
Written By Praveen R
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