Multibagger smallcap stock jumps over 7% on winning orders worth Rs 924 crore
Skipper jumped 7.4% to Rs 252.3 in Thursday's trade on BSE after the firm won orders worth Rs 924 crore from Power Grid Corporation of India and for several other domestic T&D projects, including Telecom.
Skipper said in an exchange filing that the firm won orders in the domestic T&D business of Rs 788 crore from Power Grid Corporation of India Ltd (PGCIL), and orders worth Rs 136 crore for several other domestic T&D projects including Telecom.
At 11.22 a.m., the scrip was trading 3.2% higher on BSE. Meanwhile, Skipper has also given multibagger returns to its investors as the stock has gained nearly 110% in the last six months, while it has gained over 220% in the last two years and over 400% in the last three years.
Sharan Bansal, Director Skipper, said, «We are pleased with the new order inflows of Rs 924 crore from PGCIL and other customers, the consistent order inflows in the T&D business have led to a total order in-flow YTD of Rs 2,727 crore, registering an impressive ~220% growth over last year till date.»
Bansal further added, «Going forward, the marketplace looks exciting and ripe with opportunities.
We are well positioned to capture these opportunities and deliver continuous growth and value creation. A strong Engineering order book and a robust Bidding Pipeline in excess of Rs 10,000 crore give us good visibility and confidence of achieving the desired growth and deliver up to your expectations.»
Technically, the stock's day RSI (14) is in the medium range at 58.7.
The RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. MACD is at 1.8, which is above its Center Line, but below signal line.
Shares of Skipper are also trading higher than the 5-day, 10-day, 20-day,
