Latest Bulk Deal Purchase Of Porinju Veliyath Equity Intelligence

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Pee Vee
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Latest Bulk Deal Purchase Of Porinju Veliyath Equity Intelligence

Postby Pee Vee » Wed Sep 20, 2017 10:15 pm

Om Metals Infraprojects Ltd is the latest bulk deal stock pick of Porinju Veliyath's Equity Intelligence.

On 20th September 2017, EQUITY INTELLIGENCE INDIA PRIVATE LIMITED [P M S] bought 730000 shares of OM Metals Infrapro Ltd at Rs. 62.70 per share.

EQ INDIA FUND bought 575000 shares at Rs. 62.24 per share.

Om Metals Infraprojects Is a conglomerate having diverse business activities and interests related to Hydro mechanical equipments, turn key solutions for steel fabrication. In span of 35 years, Kothari Group has transformed into a multifaceted organization with market capitalization of more than USD 125M in year 2007. It is the largest company in the execution of turnkey contracts for hydro mechanical equipments in India and amongst the largest in the world.

Om Metals, an established provider of hydro mechanical equipment and competitive turnkey solutions for hydropower and irrigation projects.

OM Metals Infra is in the Engineering sector. The current market capitalisation stands at Rs 654.87 crore.

The company's joint venture, Om Metals-SPML, has secured a letter of intent (LOI) from Office of Director General, Rwanda Agriculture Board for the work related to development of irrigation and watershed development in Mpanga Sector.

FCI has issued letter of award (LOA) to the company allowing concession for a period of 30 years at four locations Bhagalpur (Bihar), Fatehpur (UP), Malda (West Bengal) and near Siddhpur (Gujarat) for development /construction of silos of 50000 metric tons capacity at each location on design, build, finance, operate and own (DBFOO) basis for storage of wheat on fixed charge basis to the concessionaire," as per company release.

The company also won a works contract worth Rs 19.91 crore for hydro mechanical works package for modernization and renovation of Baira Siul hydro electric power station in Himachal Pradesh by NHPC.

The company management includes Sunil Kothari - Managing Director, Vikas Kothari - President & Director, Ranjana Jain - Independent Director, Gopi Raman Sharma - Independent Director, Ram Kumar Gupta - Addnl.Independent Director, Dharam Prakash Kothari - Chairman.

Multibagger stock?

Will Om Metals become a miltibagger after Porinju bought it?

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