Up 240% In 1 Year: This Multibagger Power Stock Hits Record High Following Order Worth Rs 740 Crore

The shares of Skipper Ltd., a leading PVC, solid, waste, and rain pipes manufacturer, surged as much as 13% after the company clinched an order worth Rs 737 crore from Power Grid Corporation of India Ltd. The order encompasses the design, supply, and construction of a new 765 kV transmission line project for the state-run Power Grid.

The announcement on Sunday spurred a surge in Skipper's shares, catapulting as much as 13% to Rs 401 in early trading on Monday. This victory adds to Skipper's impressive year-to-date order intake, which has now crossed Rs 3,900 crore. Skipper Director Sharan Bansal expressed enthusiasm, stating, "These recent victories are poised to play a crucial role in propelling our anticipated growth trajectory in the times ahead."

The company engaged not only in manufacturing but also in horizontal directional drilling and engineering, procurement, and construction services, is on a robust growth path. The recent rights issue, which witnessed a subscription rate of 1.77 times, further boosted Skipper's financial standing.

The shares of Skipper Ltd were seen trading with gains of more than 5% At Rs 372.10 per share as of 11:15 am on the National Stock Exchange (NSE). The stock has surged about 240% in the last 12 months. The stock has demonstrated remarkable performance, surging by 65% in the first two months of 2024.

Skipper's strategic positioning in the infrastructure sector, coupled with its diverse offerings and commitment to excellence, has bolstered investor confidence. The recent order from Power Grid Corporation of India Ltd. not only adds to Skipper's robust order book but also reflects its prowess in executing large-scale transmission line projects.

Established in 1981, Skipper Limited is an Indian manufacturer specializing in transmission and distribution structures. The company, headquartered in Kolkata, India, is an integral part of the SK Bansal Group, spearheaded by Sajan Kumar Bansal. Operating within the power transmission and distribution as well as polymer pipes and fittings sectors, Skipper Limited has a diverse presence in sub-segments like Towers, EPC, Monopoles, and Poles.

Renowned for its manufacturing prowess, Skipper Limited holds the distinction of being the third-largest company in India in terms of its capacity to produce power transmission and distribution structures. The company extends its global footprint by exporting its products to over forty countries spanning South America, Europe, Africa, the Middle East, South Asia, and Australia.