Cable stock under ₹20 jumps 10% after receiving order worth ₹51.06 Cr from MSEDCLCable stock under ₹20 jumps 10% after receiving order worth ₹51.06 Cr from MSEDCL

Introduction:

Leading cable company has secured an order worth ₹51.06 crore from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for supplying LT XLPE cables. The contract further strengthens its position in India’s power distribution sector, with delivery expected by June 2025.

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Share price movement of Ultracab (India):

On February 5, 2025, Ultracab (India) Ltd opened at ₹15.00, up 0.07% from its previous close of ₹14.99. The stock reached a high of ₹17.52 (13%) and a low of ₹14.97. By 12:31 PM, it traded at ₹15.43, a 2.94% increase, with a market cap of ₹200.24 crore.

Ultracab Secures ₹51.06 Crore Order from MSEDCL:

Ultracab (India) Limited has received an order worth ₹51.06 crore from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for supplying LT XLPE cables. This contract further strengthens Ultracab’s position in the Indian power distribution sector.

The contract requires Ultracab to deliver various sizes of LT XLPE cables by June 2025. MSEDCL is one of India’s largest power distribution companies, serving over 2.7 crore consumers across Maharashtra and parts of Mumbai, ensuring the significance of this deal.

Ultracab confirmed that neither its promoters, group companies, nor the promoter group has any interest in MSEDCL. Additionally, the contract does not qualify as a related-party transaction, ensuring compliance with industry standards and regulations.

Recent news on Ultracab (India):

As of February 01, 2025, Ultracab (India) Ltd has opened its ₹4981 lakh right issue for subscription, offering shares at an attractive price of ₹14.5 each. The offer will close on February 11, 2025, boosting capital for expansion.

Ace investor holding in Ultracab (India):

Bharatbhai Naranbhai Vaghasia

Bharatbhai Naranbhai Vaghasia holds a 1.41% stake in Ultracab (India) Ltd, owning 1,343,207 shares valued at ₹2.1 crore. This investment reflects confidence in the company’s growth potential within the cable manufacturing sector.

Chandulal Raghavjibhai Patel

Chandulal Raghavjibhai Patel holds a 1.32% stake in Ultracab (India) Ltd, owning 1,260,256 shares valued at ₹2 crore. This investment highlights his confidence in the company’s strong position in the cable manufacturing industry.

Stock performance of Ultracab (India) for Period of 1 week, 6 months and 1 year:

Ultracab (India) Ltd has experienced a slight decline of -0.66% over the past week and -0.99% over the last six months. Additionally, its performance over the past year shows a decrease of -21.4%, indicating some challenges in growth.

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Shareholding pattern of Ultracab (India):

All values in %	Dec 2024	Sep 2024	Jun 2024
Promoter	27.90%	28%	28%
FII	0.00%	0.00%	0.00%
DII	0%	0.00%	0.00%
Public	72.10%	72.10%	72.10%

About Ultracab (India):

Ultracab (India) Ltd (BSE: 538706), established in 2007, is a leading manufacturer and exporter of a wide range of electric wires and cables, including power, control, flexible, submersible, and special cables, catering to both domestic and international markets.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.