Small-cap stock in green after company bags an order worth ₹ 155 Cr from BPCL

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Small-cap stock in green after company bags an order worth ₹ 155 Cr from BPCL
Credit: © Reuters.

On Friday this small-cap stock rose more than 2% after the company received an order worth Rs. 155 Cr from BPCL. The stock has delivered 42% returns in six months and 89% returns in one year. Currently, the stock is trading above the both 50-day and 200-day moving averages.

Likhitha Infrastructure Limited

Likhitha Infrastructure Limited, the company belongs to a small-cap category with a market capitalisation of Rs. 1,319 Cr. On Friday the stock rose more than 2%, at 11:30 a.m., stocks were trading 1.3% up at Rs. 334.35 on NSE, which is 1.3% below the 52-week high.

According to the company filing, Likhitha Infrastructure Limited received an order worth Rs. 155.87 Cr from Bharat Petroleum (NS: BPCL ) Corporation Limited for Pipeline Laying and HDD Works for Krishnapatanam-Hyderabad Multi Product Pipeline (KHPL) for Part-A and Part-B. In Part-A, the project will be executed in 16 months and in Part-B the project will be executed in 12 months.

As per the company filing, total revenues increased by 10.3% from Rs. 81.97 Cr in Q1 FY23 to Rs. 91.52 Cr in Q1 FY24 and for the same period, net profit grew by 17.4% from Rs.13.56 Cr to Rs. 15.92 Cr.

As per the latest shareholding data, promoters hold 70.03% and the public holds a 29.88% stake in the company.

Likhitha Infrastructure Limited is a pipeline laying company that offers comprehensive erection, testing, and commissioning of oil and gas pipelines, city gas distribution projects, and operation and maintenance (O & M) services.

Written by Sheshadri N

The post Small-cap stock in green after company bags an order worth ₹ 155 Cr from BPCL appeared first on Trade Brains.

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