Small Cap Stock Hit Upper Circuit On Two Orders From NHIDCL & Central Railway

The shares of Niraj Cement Structurals Ltd. (NCSL) hit 5% upper circuit on Thursday after the company secured two significant work orders. The Central Railway awarded the first contract for Rs 13.96 crore. To improve the coaching facilities at Lokmanya Tilak Terminus, the order includes the construction of buildings, overhead and subsurface water tanks, road infrastructure, and P-way work.

"Niraj - Mahavir JV has received work order for "Construction of buildings overhead & underground water tanks, road etc. & P. way work in connection with augmentation of coaching facilities at Lokmanya Tilak Terminus from Central Railway value of worth Rs. 13.96 Crores excluding GST," the Board of Directors said in an exchange filing.

The National Highway and Infrastructure Development Corporation Limited (NHIDCL) also awarded the business a work order of Rs 292.44 crore. The project entails building a two-lane road with paved shoulders from Tamenglong to Mahur (NH-137) in Manipur. This NHIDCL-awarded project falls under the domestic category and is expected to be completed in 18 months.

In another filing, the Board of Directors said, "Niraj Jandu JV has received work order for "Construction of two lane with paved shoulders road from Tamenglong to Mahur (NH-137) in the state of Manipur from km 10.000 near Dialong Village to km 31.430 near Barak River (Length- 21.43 km) on EPC mode from National Highway & Infrastructure Development Corporation Limited (NHIDCL) value of worth Rs. 292.44 Crores excluding GST."

Meanwhile, the shares of NCSL currently trading at Rs 38.91 apiece on the BSE, up 4.88% from its previous close of Rs 37.10 apiece. The stock hit 5% upper circuit on the second day in a row. It has given 5.19% positive return in 1 week. In 1 year, it has given 21.97% positive return. In 3 years, the stock has given 3.09% negative return. In 5 years, it has given 50.23% positive return.

Its 52-week high price is Rs 46.24 apiece and the 52-week low is Rs 24.04 apiece on the BSE. It is a small-cap civil construction stock with a market cap of Rs 156.24 Crore.