Multibagger stock hits 5% upper circuit after receiving order ₹ 290 Cr from from Torrent PowerGrid

Multibagger stock hits 5% upper circuit after receiving order ₹ 290 Cr from from Torrent PowerGrid

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Multibagger shares engaged in the business of manufacturing transmission line towers, substations, railway electrification structures and many more hit a circuit top of 5 percent by receiving 2 work orders worth Rs. 290 million rupees and 1.8 million dollars.

With a market capitalization of Rs. 2,081 crore, the shares of Jyoti structures limited achieved a top circuit of 5 percent at Rs. 32.81 from the previous day’s closing price of Rs. 31.25. It has generated multibagger returns of 300 percent in a year.

Jyoti Structures Limited has received an order worth Rs. 290 crore from Torrent PowerGrid Limited for EPC work of 400 KV multi-circuit transmission line in Gujarat and will be executed in 18 months.

Jyoti Structures Limited has also secured a contract worth $1.8 million for the design and testing of tower prototypes for the Oman – UAE 400 kV dual circuit interconnection project and will be executed in 6 months.

Jyoti Structures Limited is engaged in the business of manufacturing Transmission Line Towers, Substations, Railway Electrification Structures and many more. It is also involved in the provision of EPC services such as foundations, assembly and testing of distribution networks, substations, etc.

Its revenue from operations grew by 5,122 percent from Rs. 4 crore in FY22 to Rs. 229 crore in FY23, accompanied by a declining loss of Rs. 42 crores to Rs. 4 crores.

Written by: Bharat K.S.

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