Markolines Pavement Technologies Stocks Zoomed 10% After Big Order Value

On May 11, 2023, Markolines Pavement Technologies received a work order worth Rs 24.35 crore (excluding GST), from Brihanmumbai Municipal Corporation (a Domestic Corporation) located in Mumbai, India, for the work of Preventive Maintenance work of the Eastern Freeway from P. Dmello Road to Ghatkopar Mankhurd Link Road, which shall be completed within 9 months.  

Markolines Pavement Technologies Limited engages in the operation and maintenance of highways in India. The company has always believed in innovation & strives to adopt new technology in pavement preservation. It has been pioneering in bringing various such latest technologies in India which offers higher efficiency, cost effectiveness and are environment friendly. Owing to such technologies, the company offers certain specialized maintenance services that keep it ahead of the competition and ultimately keep the leadership position. 

Markolines is a group of companies with expertise in offering superior services primarily in Highway Operations & Maintenance (O&M). Their offerings include expert consulting for the latest technology to improve asset performance and client experience. They aim to consistently venture into new markets and other infra sectors, keeping sustainability and safety. 

At the closing bell, on May 11, 2023, the company’s share traded at Rs 126.85, up by 11.95 points or 10.40% from its previous closing of Rs 114.90 on the BSE. The scrip opened at Rs 111.60 and has touched a high and low of Rs 128.35 and Rs 110.00 respectively. So far 56,000 shares were traded on the counter. 

Currently, the stock is trading at Rs 129. The BSE group ‘M’ stock of face value of Rs 10 has touched a 52-week high of Rs 207.00 on Nov 7, 2022 and a 52-week low of Rs 78.55 on May 26, 2022. Last one week high and low of the scrip stood at Rs 128.35 and Rs 109.10 respectively. The current market cap of the company is Rs 260.37 crore. 

The promoters holding in the company stood at 72.18%, while non-institutions held a 27.82% stake in the company. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations.