Multibagger stock: This small-cap shipping company – Knowledge Marine & Engineering Works (KMEW) shares touched a new record high of Rs 408 per share on the BSE intraday on Monday. The counter in the last 10 months surged over 730 per cent on the BSE on a positive business outlook.
The stock after hitting a new high, witnessed selling pressure as it closed over 2 per cent to Rs 397.95 apiece against nearly 1 and 1.5 per cent rise in the S&P BSE Sensex and BSE Smallcap.
In the last one month, the scrip has jumped 50 per cent, while in six months it has gained over 150 per cent as compared to over 9 per cent rise and nearly 2.5 per cent fall in the S&P BSE Sensex.
The counter made its market debut on March 22, 2021. The company allotted shares at an issue price of Rs 37 per cent share in the initial public offer (IPO).
KMEW is at present trading on the BSE SME Platform, which is intended for small and medium-sized companies with high growth potential, under the M group. The platform is open for SMEs whose post-issue paid-up capital has less than or equal to Rs 25 crore.
Incorporated in 2015, the shipping company has the vision to own and operate marine craft for the government and private players and provides multiple solutions for marine engineering including dredging at various ports, and carrying out repair services of naval and merchant ships among others.
The company earlier this year in May received a Rs 68 crore contract for a tenure of 12 months by state-owned company Dredging Corporation of India, under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).
The total book position of KMEW will race past Rs 250 crore mark with this contract. It had an order book of Rs 182 crore at the start of the current financial year 2022-23 (FY23). The company’s market capitalisation stood at Rs 407.34 crore as of August 1, 2022, as per the BSE data.
