GG Engineering gains on bagging fresh orders for infrastructural steel valued at about Rs 32 crore
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GG Engineering is currently trading at Rs. 1.39, up by 0.16 points or 13.01% from its previous closing of Rs. 1.23 on the BSE.
The scrip opened at Rs. 1.37 and has touched a high and low of Rs. 1.47 and Rs. 1.32 respectively. So far 185319722 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 3.16 on 13-Sep-2022 and a 52 week low of Rs. 0.74 on 31-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1.68 and Rs. 1.10 respectively. The current market cap of the company is Rs. 125.77 crore.
The promoters holding in the company stood at 1.93%, while Non-Institutions held 98.07% stake in the company.
GG Engineering has bagged fresh orders for infrastructural steel valued at about Rs 32 crore which will be completed within the Q2 of FY24. The company is targeting a 20%+ growth in revenue from the Infrastructural Steel business during the current F.Y. as compared to the preceding year. The company achieved Rs 99.5 crore in revenues from Infrastructural Steel during FY 2022?23 and has already executed Rs 33.2 crore during 2023?24 so far and the fresh orders will take it up to Rs 65.2 crore by September 30, 2023.
The company is also in advanced stages of exploring to add new productsincluding steel pipes and hollow sections to the infrastructure business offerings which will add further to the targets set for the business.
G.G. Engineering has been in the business of Quality Metal Products including Heavy Steel Products.
