BL Kashyap Hits New 52-Week High, Zooms 9% in Weak Market: Trigger?
By Malvika Gurung
Investing.com — The civil engineering and construction company B L Kashyap and Sons (NS:) stock zoomed 9.33% on Wednesday and hit a new 52-week high of Rs 43.35/share in the session.
The leading construction stock rallied as the company won a new order worth approximately Rs 238 crore from Embassy Construction Private Ltd.
B L Kashyap and Sons has won a concrete and block work package from Embassy Construction, which has taken the company’s total order book as on May 2, 2023, to Rs 2,518 crore.
The domestic order is on a ‘Contract’ basis, and B L Kashyap and Sons has been awarded a time period of 28 months to execute the said order.
B L Kashyap and Sons is a small-cap company with a market capitalization of Rs 937 crore. The stock has rallied over 9% on Tuesday, significantly defying the broader market mood as benchmark indices and have tripped up to 0.36% each in the session.
The engineering and construction stock has provided returns of nearly 68% to its investors in the past one-year period. In one month, the stock has jumped 35.9%.
InvestingPro models appear bullish on the small-cap stock, setting an average fair value of Rs 51.1/share on it, which indicates a potential upside of 22.7% on the stock compared to its current market price.
The highest fair value set on B L Kashyap and Sons’ stock by InvestingPro models is Rs 76/share, which is at a strong 82.5% upside.
