This penny stock rose more than 2.5% after the company bagged an order worth Rs. 220 Cr. The stock has delivered 38% returns in six months and 25% returns in one year. The stock is currently trading 3.6% above the 50-day moving average and 19% above the 200-day moving average.
Niraj Cement Structurals Limited
It’s a penny stock, with a market capitalisation of Rs. 148 Cr. On Thursday the stock rose more than 2.6%, at 11:35 a.m., stocks were trading 2.6% up at Rs. 37.40 on NSE.
According to the company filing, Niraj Cement Structurals Limited received a work order from the Mumbai Metropolitan Region Development Authority (MMRDA) worth Rs. 220.89 Cr. For Design and construction of an Elevated Corridor from Bharat Diamond Bourse Company BKC to Vakola Junction.
As per the company filing, total revenues grew by 23% from Rs. 81 Cr in Q1 FY23 to Rs. 100 Cr in Q1 FY24 and for the same period, net profits declined by 42% from Rs. 0.61 Cr to Rs. 0.35 Cr.
According to the latest shareholding data, Promoters hold 24.26% and the public hold 75.74% stake in the company.
Niraj Cement Structural Limited is a company engaged in the infrastructure business. It constructs highways, bridges, water supply and drainages, irrigation and other infrastructural works.
Disclaimer: Due to the liquidity of Penny stocks, even a minor rise in the volume of buy orders can cause the stock to reach its upper circuit. Even if the stock prices are within the normal buying range for retail investors and represent a significant upside, Penny stocks pose significant dangers to retail investors.
Written by Sheshadri N
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