Multibagger stock hits upper circuit after completion of ₹120 crore Reliance Industries order | Stock Market News
Bharat Global Developers share price was locked in at 5% upper circuit on Tuesday after the company announced the completion of a project from Reliance Industries. The multibagger stock spiked to a high of ₹1,304.75 apiece on the BSE.
Bharat Global Developers said it has completed the ₹120 crore Fluidized Catalytic Cracker (FCC) project for Reliance Industries Ltd. The FCC unit, which is a pivotal component of Reliance Industries’ refinery operations, was designed and constructed to meet the highest operational and environmental standards.
“We assure our stakeholders that the company remains focused on its growth trajectory, with a strong order book exceeding ₹1,500 crores, which includes significant contracts from Reliance Industries, Tata Agro, McCain India, and international orders via our Dubai-based subsidiary,” Bharat Global Developers said in a regulatory filing.
The revenue from this project has already been accounted for in the Company’s financials contributing positively to its recent quarterly performance, it added.
“With this milestone achieved, BGDL continues to focus on executing other key projects within its robust order book, valued at over ₹1,500 crores. These include the Tata Agro annual supply contract, the McCain India AgriTech project, and Dubai subsidiary orders for precious metals and stones,” BGDL said.
Bharat Global Developers Share Price Trend
Bharat Global Developers share price has showcased remarkable performance, delivering a robust gain of over 27% in just one week. The stock has provided multibagger returns, surging by more than 178% in the last three months and over 579% in the past six months.
Year-to-date (YTD), Bharat Global Developers stock price has skyrocketed by an impressive 2,245%, while recording a staggering growth of over 9,200% over the last three years.
At 10:50 AM, Bharat Global Developers shares were still locked at 5% upper circuit of ₹1,304.75 apiece on the BSE, commanding a market capitalisation of ₹13,211 crore.
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