Micro Cap Stock Jumps 7% After Bagging Government Contract

Shares of Jyoti jumped up over 7% to hit an intraday high of ₹52.95 on Monday morning.

What Happened: The jump today comes as the company on Sunday announced bagging a major order from the Gujarat Energy Transmission Corporation Limited. The order is for the supply of 11 KV VCB Panels as per specification on a variable price basis. As per an exchange filing, the order is worth around ₹7.56 crore.

This is the company’s second order from the Gujarat Energy Transmission Corporation Limited in this month. Earlier in the month, the company had announced that its switchgear division had bagged a similar order from the PSU. The order was worth around ₹7.37 crore.

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The stock has had a great at the bourses going up over 200%. The bullish run has been supplemented by a steady inflow of orders.

The Jyoti Group of Companies is a conglomeration of industrial units involved in manufacturing and marketing a wide range of electrical and hydraulic engineering equipment used extensively in the vital sectors of the national and international economy.

Price Action: Shares of Jyoti were up 4.28% to trade at ₹51.40 in the early hours of trading on Monday.

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