Road Construction Penny Stock Under Rs 30, Receives Order Worth Rs 37,99,40,688.50 from Gandhinagar

Akash Infraprojects Limited announced that it has been awarded a significant work order from the District Panchayat of Gandhinagar. The order, valued at Rs. 37,99,40,688.50. This contract is for the Construction, widening, strengthening, and resurfacing of various important roads within the Gandhinagar District Panchayat area on an annual, as-needed, or emergency basis.

Earlier, the company received a work order from the Office of the Executive Engineer, Roads and Building Department, Mahesana. The contract is valued at Rs 43,44,70,699.96 (approximately 43.45 Crore) and is for the Widening, Strengthening, and Resurfacing of various roads within the R. & B. Mehsana jurisdiction. This order is on an Annual Rate Basis, meaning the services will be executed as and when required.

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Established in 1999, Akash Infraprojects Ltd is a leading civil construction company that specialises in a wide range of projects, including roads, buildings, bridges, culverts, dams, and godowns. The company has a strong presence in the Gujarat market, where it has completed numerous contracts for prominent government bodies such as the Ahmedabad Municipal Corporation (AMC), Ahmedabad Urban Development Authority (AUDA), and the Road and Building Departments (R&B) of the Gujarat Government. To support its large-scale operations and ensure quality and timely delivery, the company has invested in its own infrastructure, including facilities for bitumen material mix and CC paver manufacturing.

The company have a market cap of Rs 50 crore with promoters holding a 74.59 per cent stake and the public holding a 25.41 per cent stake. The stock is up by 28 per cent from its 52-week low of Rs 23 per share.

Disclaimer: The article is for informational purposes only and not investment advice.