Shares of this switchgear engineering company have skyrocketed 1036% or 10x in just a year
This SME company has bagged an order of Rs 230 crore from MSEDCL
Incorporated in 1994 RMC Switchgears Ltd is primarily engaged in the business of switchgear engineering, ECI contracts for the power distribution/transmission sector and PVC marble and solid surface. The company's product portfolio includes enclosures of energy meters, LT/HT distribution Boxes and Panels, Junction Boxes, Feeder pillars and other power.
Shares of this multibagger SME stock opened to an all-time high in today’s session at Rs 284.10, at which it was locked in an upper circuit of 5%. Shares of RMC Switchgears have been in momentum lately, hitting the upper price band of 5% for 17 out of 18 trading sessions during October 2022
Shares of RMC Switchgear have skyrocketed in a very small timeframe, giving 146% price returns in the last one month and 444% price returns in 3 months.
An investment of Rs 100,000 a year ago would have fetched exponential returns of 10x i.e. Rs 10,36,000. During this period, the company’s share price jumped from Rs 25 to Rs 284 giving share price returns of 1036% in the one-year holding period.
Shares of this BSE ‘MT’ Group stock command a market capitalisation of Rs 173 crore currently trading at a TTM PE of 300x. The stock has a 52-week high & low of Rs 284.10 and Rs 19, respectively on BSE.
The Jaipur-based company announced in a press release on October 31, that it has received a Letter of Award of Rs 230.24 from the Maharashtra State Electricity Distribution Company Limited under its EPC Division, The project will be completed within the next 12-18 months.
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