Shares of this small-cap company rally on the bourses after winning orders worth Rs 247 crore

 Shares of this small-cap company rally on the bourses after winning orders worth Rs 247 crore

Indian Market
by 5paisa Research Team Last Updated: 2022-08-25T11:53:22+05:30

These orders have been secured from Precast and Government segments.

The shares of PSP Projects Ltd are buzzing on the bourses today. As of 11.35 am, the shares of the company are trading at Rs 608.4 apiece, an increase of 3.74% over the previous closing price.

This surge came on the back of an announcement made by the company on Wednesday, post market hours. The company reported that it has secured orders worth Rs 247.35 crore (excluding GST) from Precast and Government segments. With this order win, the total order inflow for the financial year 2022-23 to date stands at Rs 1,344.24 crore.

Earlier today, in the pre-opening session, the announcement was met with a positive response. During this time, the share price of PSP Projects climbed 3.5% to trade at Rs 607 apiece. With this surge, the company was one of the top gainers from Group A. Today, the company reported a spurt in trading volume of more than 1.83 times.

PSP Projects Ltd, a part of the S&P BSE Smallcap index, is a multidisciplinary construction company. It offers a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in India. They provide their services across the construction value chain, ranging from planning and design to construction and post-construction activities to private and public sector enterprises.

In the recent quarter of Q1FY23, on a consolidated basis, the company’s topline increased by 9.68% YoY to Rs 348 crore. Subsequently, the bottom line increased by 17% YoY to Rs 29 crore.

The company is currently trading at a TTM PE of 12.36x, as against the industry PE of 125.5x. In FY22, the company delivered an ROE & ROCE of 24.20% and 35.23%, respectively.

Today, the scrip opened at Rs 607 and has touched a high and low of Rs 624 and Rs 605, respectively. So far 23,506 shares have been traded on the bourses. The stock has a 52-week high and low of Rs 672 and Rs 415, respectively on BSE.

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