Huge contract expected to significantly contribute to company’s revenue
New Delhi based contractor ETT Limited (BSE Code: 537707), 10% stock of which is held by Foreign Institutional Investors, has captured significant attention after securing a massive order worth Rs.850 crores from the Sri Lankan government for infrastructure development https://www.adb.org/ .
Promoters hold a significant 65% stake in ETT Limited https://ettgroup.in/ , demonstrating their strong commitment to the company’s long-term success.
Foreign Institutional Investors (FIIs) hold a 10% stake in ETT Limited, indicating institutional confidence in the company’s prospects https://www.conexpoconagg.com/ .
The huge order https://www.meed.com/latest/tenders is transformative for ETT Limited and is expected to significantly boost the company’s revenue and enhance its credibility and visibility in the international market, said the company.
This development has sent the stock price soaring, with analysts suggesting that the rally is just beginning. Currently trading at Rs.33, experts predict that ETT Limited’s stock could reach Rs.350 in the next six months, representing an impressive 1,200% gain https://ec.europa.eu/info/funding-tenders/opportunities/portal/screen/home.
ETT Limited is known for its strong fundamentals, with a proven track record of delivering projects on time and within budget. The company boasts a zero-debt balance sheet and healthy reserves, indicating robust financial health https://www.nseindia.com/ .
Despite its strong fundamentals, ETT Limited’s stock is trading at a PE ratio of just 16, significantly lower than the industry standard of 35. This suggests the stock is undervalued and ripe for a re-rating https://www.bseindia.com/ .
On the technical front, ETT Limited’s stock http://deutsche-boerse.com has been on a notable upward trend, breaking out to new highs and trading above all its moving averages. Indicators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are also in bullish zones, suggesting further upside potential. Fiinews.com
