SPML Infra looks good in infra sector. May give multibagger gains

[Shivarama Karkala]

Infrastructure development firm SPML Infra Ltd is looking promising and has multibagger chances.

It is a good bet amongst penny stocks.

SPML Infra announced receiving a Rs 546.96-crore order from the Bangalore Water Supply and Sewerage Board (BWSSB).

"We are very happy to receive this latest order in the domain of bulk water-supply to provide reliable, sustainable and safe drinking water. Keeping the people in mind, we will be able to deliver appropriate drinking water solutions to the millions of residents in Bengaluru," SPML Infra Chairman Subhash Sethi said.

The share touched its 52-week high of Rs 37.05 on March 18, 2019.

Earlier, SPML INFRA had bagged two orders worth Rs 218.18 crore for waste water treatment projects.

The two orders were for waste water treatment projects in Uttar Pradesh and Haryana from Uttar Pradesh Jal Nigam, Varanasi and Haryana State Industrial and Infrastructure Development Corporation Ltd, Bahadurgarh, the company said in a BSE filing.

One order pertained to planning, designing, engineering, procurement, construction, testing and commissioning of a sewage treatment plant (STP) and interception and diversion of drain in Jaunpur, Uttar Pradesh for pollution abatement of river Ganga under National Mission for Clean Ganga (NMCG).

"The project has been received with JV partner, Pulkit Projects," it said.

The second order of SPML INFRA was for planning, designing, engineering, procurement, construction, testing and commissioning of a common effluent treatment plant and main pumping station based on tertiary treatment for the industrial area of Bahadurgarh, the company said.

"We are happy to receive the order for wastewater treatment under the Namami Gange Scheme. Water and waste water management are the most promising sector in the country and significant funds have been allocated by the government under several schemes," SPML Infra Ltd Chairman Subhash Sethi said.

So, it appears that the penny stock Company has good prospects and may give multibagger gains.