Skipper Ltd secures Rs 1,135 crore order, shares reach 52-week high Today!

Indian headline indices were trading lower, despite optimism that they will shortly record new all-time highs. Banking, power and telecommunication sectors performed the worst, while the Bajaj twins, Bajaj Finance and Bajaj Finserv, attempted to lift the indices. 

Broader indices were trading in the green, outperforming the main indices significantly. Skipper Ltd, one of today’s top small-cap gainers, drew investors with its strong upswing in an otherwise weak market. On an intraday basis on Monday, shares of Skipper Ltd touched an intraday and 52-week high of Rs 172.70 per share on the BSE when they were locked at 20% upper circuits for a shorter period. 

Shares were trading at a significant rise in volume after the company announced a recent achievement of securing cumulative order wins totalling an impressive Rs 1,135 crore for the design, supply and construction of new transmission line projects for Power Grid Corporation, as well as tower and pole export supplies to the Latin America, Middle East and North Africa region. 

Considering the company’s financial performance, on a consolidated basis, it reported a considerable growth of 18.95% from Rs 552.65 crore registered in Q4FY22, recording total revenue of Rs 657.36 crore in Q4FY23. When comparing the net profit for the fourth quarter of FY23 to the same quarter last year, it edged down by 3.44% from Rs 24.56 crore to Rs 23.72 crore. Shares of the company soared around 45% in a single month, giving investors stellar returns of more than 235% over the last year. 

Skipper Ltd, established in 1981, is one of the top companies in the power transmission & distribution and polymer segments. Its global footprint encompasses continents such as Latin America, Europe, and Africa, and it operates in more than 50 countries, with a presence in sub-segments such as towers, EPC, monopoles, poles and railway electrification structures. 

Keep a close eye on this stock for the upcoming sessions!