A penny stock, Nila Infrastructure is attracting a lot of attention; with investors/traders constantly on the lookout for a cheap stock, which will turn into an Infosys or L&T, every penny stock has its day and today seems to be Nila’s day.
The stock, opened 20% higher at Rs.6.7, touching the UC on the back of some 8-times surge in volume. Its 52-week high is at Rs.8.65, hit in Sept’22.
The stock is up after it announced having company received an order from Shree Infracon to construct residential units. The company has received work for the construction of 1,694 Residential flats (R.C.C. Work, Masonary Work, Frame fitting with Plaster Work — Material + Labour) at Ramapir No Tekro, Wadaj, Ahmedabad. The total estimated development cost is Rs 102 crore.
The said order is to be executed in 18 months, while defect liability period shall be for 10 years for structure liability and building defects.