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Business News/ Markets / Stock Markets/  Multibagger stock: B L Kashyap & Sons rallies nearly 8% on 208 crore order win
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Multibagger stock: B L Kashyap & Sons rallies nearly 8% on ₹208 crore order win

Shares of B L Kashyap & Sons surged nearly 8% after securing a new contract worth ₹208 crore from Manyata Promoters Private Limited. The stock has gained 158% in the last one year.

Taking the stock's March 2020 low price of ₹3.35 apiece, it has jumped a whopping 2,220% to trade at the current level. (Pixabay)Premium
Taking the stock's March 2020 low price of 3.35 apiece, it has jumped a whopping 2,220% to trade at the current level. (Pixabay)

Shares of B L Kashyap & Sons jumped nearly 8% to 80 apiece in early trade deals on Friday. This surge was triggered by an announcement made by the company in an exchange filing on Thursday regarding a new contract secured from Manyata Promoters Private Limited.

The contract is valued at 208 crore and involves the construction of Blocks D1 & D2 (SEZ) at the Embassy Manyata Business Park Campus, Bangalore. With this new order, the total order book of the company as on date stands at 3,165 crore, as per the company's exchange filing. 

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B L Kashyap & Sons Ltd. (BLK) is one of the leading engineering, procurement, and construction (EPC) companies. The company has a presence in 12 cities across eight states in India. With three decades of expertise, BLK has completed over 250 projects and more than 125 million square feet.

The company's portfolio spread includes IT campuses, commercial spaces, malls, hotels, residential complexes, institutions, factories and manufacturing facilities, healthcare, and transportation.

Also Read: 13 Nifty 500 stocks priced under 100 have gained up to 425% in a year

The company shares over the last one year have gained 158%, moving from 29.80 apiece to the current trading price of 77.65. Looking at the long-term performance, the stock generated a multi-bagger return of 600% over the last three years.

Taking the stock's March 2020 low price of 3.35 apiece, it has jumped a whopping 2,220% to trade at the current level. 

Also Read: Bitcoin price rises above $52,000, regains $1 trillion market capitalization

In terms of financial performance, the company reported a consolidated net profit of 6.91 crore in Q3FY24, down from 36.59 crore recorded in the same period the previous year. The high increase in operational expenses has damaged the company's profitability, which increased 30% year on year to 300 crore in the third quarter. 

The consolidated revenue from operations during the December quarter came in at 324 crore, showing an improvement from the 252 crore reported in Q3FY23.

At 10:00 am, the stock was trading with a gain of 4.72% at 77.70 apiece. 

Disclaimer: We advise investors to check with certified experts before taking any investment decisions.

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Published: 16 Feb 2024, 09:59 AM IST
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