Shares of NMS Global Limited have surged by more than 160 per cent in the past year. The stock was locked in the upper circuit on Wednesday, with a 10.00 per cent gain, as a result of increased buying activity from investors.
NMS Global Limited has recently secured a new work order worth Rs. 2,33,44,665.32 for the construction of a government higher primary school in Raichur district. This project, awarded by Bharat Electronics Limited, strengthens NMS Global’s presence in the government infrastructure construction sector. The company will have 15 months to complete the construction work from the commencement date.
Despite the positive news, the company posted weak quarterly results. In Q4FY24, the revenue stood at Rs 6.76 crore, marking a 79.07 per cent YoY increase. However, the operating profit and the PAT of the company both reported losses.
NMS Global Limited, previously operating in the food processing and commodity supply sector, now focuses on contracting services such as Civil Construction, Pre-Engineered Buildings, Skill Development, Financial Consultancy, and Engineering Services. The company also provides exclusive supplies and marketing team for telecom provider companies.
Investors have witnessed significant growth in the stock, making it one to watch closely. It is essential to note that the article is for informational purposes only and not investment advice.