A penny stock with a market capitalization of Rs 257.60 crore hit an upper circuit of 2 percent after signing a memorandum of understanding (MoU) with Germany’s Deltavision.
Ducon Infratechnologies Ltd. started its trading session at a higher note of Rs 9.91 per share, hitting a 2 percent upper circuit. Its previous close was at Rs 9.72 per share and reached an intraday high of Rs 9.91 per share.
Ducon Infratechnologies Ltd. has signed a Memorandum of Understanding (MoU) with Germany’s DeltaVision to enter the rocket propulsion and hydrogen mobility markets in India. This partnership aims to cater to the emerging Indian markets in the hydrogen and aerospace value chains by manufacturing embedded products through co-development and domestic industrialization.
Looking at the business parameters, the revenue from operations on a yearly basis has increased by 0.43 percent, from Rs 88.73 crore in Q3 FY23 to Rs 89.12 crore in Q3 FY24. Similarly, net profits increased by 33 percent, from Rs 2.26 crore to Rs 3.01 crore, during the same period.
Ducon Infratechnologies Ltd. operates in two segments, namely engineering, procurement, and construction (EPC) and information technology (IT). The promoter of the company holds a 60.24 percent stake, while the remaining 39.76 percent is held by the company.
Looking at the financial metrics, the company’s return on equity stands at 3.15 percent, and the return on capital employed stands at 6.68 percent. It has delivered a 75 percent return in six months.
Ducon Infratechnologies Ltd. is an Indian fossil fuel coal technology based company founded in 2009 engaged in the business of Fossil Fuel Clean Technologies, Green Energy, Green Electrification Markets, and Cleantech. It is regarded as one of the pioneers for seawater FGD systems and wet limestone FGD systems.
Written By Praveen R
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