Multibagger infra stock surges to record high, up 145% in 6 months
Shares of Power Mech Projects Ltd surged to record high of ₹2,374 apiece on the BSE in Tuesday’s early trading session. The stock, which has seen bullish momentum lately, has outperformed this year (YTD) by giving multibagger returns during the last six months period.
Power Mech Projects shares have rallied more than 145% in the last six months, from trading around ₹960 per share level to currently at all-time high. Meanwhile, the multibagger infra stock has gained over 137% in a year’s period.
In October this year, Power Mech Projects Ltd’s joint venture (JV) with RITES received an order worth over ₹499 crore from the Bangalore Metro Rail Corporation Ltd (BMRCL). The project was awarded to RITES- PMPL. According to a regulatory filing, the order is for construction of Depot cum workshop at Challaghatta in Reach-2 Extension of Bangalore Metro Rail Project, Phase-2.
Power Mech Projects Limited, is one among the leading infrastructure-construction companies based in Hyderabad, India with global presence and is engaged in providing spectrum of services in power and infrastructure sectors. It was established in the year 1999 by an engineering entrepreneur S. Kishore Babu, who is currently the Chairman/Managing Director of Power Mech Projects Ltd.
Power Mech Projects Limited operates as an integrated power infrastructure services company. The Company provides comprehensive erection, testing and commissioning of boilers, turbines and generators, civil works and operation, and maintenance services. It has 112 On-going projects including 44 AMCs and 11 overseas projects as of November 2022.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.