Shares of this multibagger penny stock jumped up to 2.20 percent in Wednesday’s trading session after the company’s segment successfully secured an order worth Rs 7.37 crores. In the last six months, the company’s stock gained approximately 25 percent for its stakeholders.
With a market capitalization of Rs 97.16 crores, the stocks of Jyoti Limited opened their trading session on Wednesday at Rs 58.99 and currently trade at Rs 56.80. The company’s scrip witnessed an intra-day high of Rs 58.99 indicating a jump of approximately 2.20 percent as compared to the previous close of Rs 57.75 apiece.
Such bullish share price movements were observed today after the company intimated about the receipt of an order worth Rs 7.37 crores (excluding GST) under the “Switchgear” Division.
The abovementioned order is received from ‘Gujarat Energy Transmission Corporation Limited’ (GETCO) in Vadodara on a variable price basis for the supply of 11 KV VCB Panels under a ‘buyback’ scheme. The delivery date for the same is fixed as 25th July 2024.
Some of the significant terms of the order include a guarantee of 18 Months from the date of supply or 12 Months from the date of commissioning whichever is earlier.
During the recent financial quarters, the company’s prime business indicators, including operating revenues as well as net profits, showed positive movements with the former jumping from Rs 40.39 crores during Q2FY24 to Rs 41.76 crores during Q3FY24 and the latter, during the same time horizon, shifted up drastically from Rs 59 lakhs to Rs 1.22 crores.
Keeping a purview of the last one year, the company’s stock delivered multibagger returns of nearly 240 percent to its shareholders, i.e., if someone invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 3.40 lakhs.
Jyoti Limited is engaged in the business of manufacturing generators switchgear, electric motors, and relays. The company offers engineered pumps and hydel products comprising turbines, hydro generators, and inlet valves. It serves power, agriculture, water supply and sewerage, naval and marine, steel, cement, as well as public sector undertakings.
Written by Amit Madnani
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