Penny stock hits 5% upper circuit after receiving an order from Airport Authority of India 

Abhishek Integrations Ltd, a microcap company, saw its shares surge by 5 percent in Monday’s trading session following an order from the Airport Authority of India. Year-to-date, the company has delivered a 40 percent return to its shareholders.

With a market capitalization of Rs. 23.4 crores, Abhishek Integrations Ltd started the day’s trading at Rs. 38.95, marking a 5 percent upper circuit compared to the previous day’s close of Rs. 37.10.

The surge in share price came after the company announced that it had secured a work contract from the Airport Authority of India for Rs. 2.70 crores including GST. The contract entails the Annual Repair and Maintenance Operations of Electrical and Mechanical Installations at Dehradun Airport for the years 2024-2026.

Despite a decrease in revenue and net profits during the period, Abhishek Integrations reported a strong order book of Rs. 2,40,509 million as of June 30, 2023. The company’s profitability metrics improved with an increase in return on equity and return on capital employed on a year-on-year basis.

The Promoters of Abhishek Integrations hold a significant ownership stake of 67.72 percent, with Retail Investors holding the remaining 32.28 percent. Headquartered in Gujarat, the company was established in 2017 and is involved in developing, operating, and maintaining electrical and mechanical installations at various airports in India.