Multibagger small-cap stock jumps over 8% on order win update. Do you own?
Vikas Kothari, the Managing Director and Chief Executive Officer of Om Infra Ltd, expressed that by maintaining its emphasis on managing water resources, enhancing irrigation, and promoting renewable energy, Om Infra is in a strong position to contribute to national programs like the Jal Jeevan Mission and the development of hydroelectric power.
'We expect this project to contribute positively to our revenue and profitability, while driving long-term value for our stakeholders,' said Kothari.
Last month, the company secured an order valued at ₹ 448 crore for water infrastructure projects in Uttar Pradesh. The initial project was for the Moradabad Circle, while the second contract pertained to the Lucknow Circle.
Om Infra is a company dedicated to infrastructure development, primarily specialising in Engineering, Procurement, and Construction (EPC) services in the water and energy industries. Additionally, the company is involved in providing integrated renewable energy solutions, emphasizing its dedication to sustainability and innovation in the field of infrastructure development.
OM Infra share price has increased by more than 800% over the last five years, significantly benefiting its investors. Nevertheless, the stock experienced just a gain of 2.56% in the past week. Over the last quarter, the stock has dropped 16.35%, and in the past year, it has declined by 8.23%. OM Infra share price today opened at an intraday low of ₹ 114 apiece on the BSE, the stock touched an intraday high of ₹ 122.30 per share.
Anshul Jain, Head of Research at Lakshmishree Investments said that OM Infra share price is forming a 72-week-long Head and Shoulder pattern on the weekly chart with a crucial neckline placed at ₹ 98. A breakdown and close below ₹ 98 will confirm the bearish setup, potentially triggering a sharp decline. Given the length of the pattern and the weak structure, a breach below the neckline could lead to a steep fall towards the ₹ 65 level. Bulls must defend ₹ 98 to avoid further downside.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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