Multibagger penny stock under Rs 10 hit upper circuit after approving Rs 200 crore acquisition of Gina Engineering, making it a wholly owned subsidiary
DSIJ Intelligence-1Categories: Multibaggers, Penny Stocks, Trending
The company has a market cap of Rs 36.26 per share and the stock has given multibagger returns of 160 per cent from its 52-week low of Rs 3.38 per share.
Premier Energy and Infrastructure Limited's Board of Directors has approved the acquisition of 100 per cent of the shareholding of Gina Engineering Company Private Limited for a total consideration of Rs 200 crore. This strategic acquisition, a civil engineering and construction company, is subject to due diligence and necessary statutory and regulatory approvals and is expected to be completed within three months. Post-acquisition, Gina Engineering Company Private Limited will become a wholly-owned subsidiary of Premier Energy and Infrastructure Limited, facilitating inorganic growth in the company's core business.
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Gina Engineering Company Private Limited, incorporated in 1988, has a strong financial standing with a paid-up share capital of Rs 6,54,74,170 and reported a provisional revenue of Rs 508.31 crores for FY 2025, with a PAT of Rs 21.10 crores. The acquisition will be an all-cash transaction and the acquired entity operates entirely within India. This move is anticipated to significantly enhance Premier Energy and Infrastructure Limited's capabilities and market presence in the civil engineering and construction sector.
Premier Energy & Infrastructure Ltd (PEIL), incorporated in 1988, is an infrastructure company focusing on construction, housing development and the energy sector. PEIL has undertaken estate development projects, particularly in residential and commercial spaces and has expanded into power generation infrastructure. The company has two subsidiaries, RCI Power Ltd and RCI Power (AP) Ltd, which hold land for wind farm development, leased for 25 years. RCI Power Ltd has two subsidiaries, RCI Windfarm 30MW Private Limited and RCI Windfarm 50 MW Private Limited.
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On Thursday, shares of Premier Energy and Infrastructure Limited hit a 2 per cent upper circuit to Rs 8.78 per share from its previous closing of Rs 8.61 per share. In Q1FY26 results, the company reported total income of Rs 43,000 and net loss of Rs 16.78 lakh while in FY25 results, the company reported total income of Rs 2.16 crore and net profit of Rs 73 lakh. The company has a market cap of Rs 36.26 per share and the stock has given multibagger returns of 160 per cent from its 52-week low of Rs 3.38 per share.
Disclaimer: The article is for informational purposes only and not investment advice.