This Mukul Agrawal stock hits new 52-week peak; up 27% in a month - what should you do?

Ace investor Mukul Agrawal backed this civil construction company shares touched a fresh 52-week peak of Rs 211.75 per share after gaining more than 3 per cent on the BSE on Wednesday as Societe Generale – one of Europe's leading financial services groups – picked a stake in the Capacite Infraprojects.

Capacite Infraprojects is a focused EPC company that provides an end-to-end construction service for buildings and factories across sectors. At around 2:06 PM, shares of Capacite were up over 1 per cent to Rs 207.65 per share today as compared to the last day’s closing of Rs 205.25 apiece.

Societe Generale buys stake in Capacite

Societe Generale – a renowned foreign institutional investor (FII) – bought 24,17,500 equity shares from Newquest Asia Investments II Limited at Rs 190 per share through an open market transaction, according to the data available on the BSE.

Capacite’s fundraising plan

Capacite Infraprojects has announced its plan to raise Rs 96.30 crores through a preferential issue of equity shares, subject to shareholders' approval. The funds will be utilized to support the company's long-term working capital requirements.

What should investors do?

Capacit’e’s healthy order book and balance sheet are major positives, a domestic brokerage firm Nuvama Institutional Equities said. Pickup in execution and improvement in the working capital cycle shall be key stock triggers, it further said, retaining a ‘buy’ rating with a target price of Rs 217 apiece.

The company is a fast-growing construction company providing end-to-end services for residential, commercial, and Institutional buildings with a presence in Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Gandhinagar, Pune, Goa, Chennai, Kochi, Hyderabad and Bengaluru.

Ace investor’s favourite

Renowned investor Mukul Agrawal has 13,00,000 equity shares or 1.91 per cent stake in Capacite Infraprojects, according to the March shareholding pattern of the company available on the BSE.

Celebrity investor Mukul Agrawal publicly holds 59 stocks with a net worth of over Rs 3,306.3 crore as of June 14, 2023, according to the stock analysis portal trendlyne.com.

Capacite Infraprojects share price: Past performance

Capacite Infraprojects shares grew by 27 per cent in the last one month as compared to a nearly 2 per cent rise in the Nifty index. While year-to-date, the stock was up around 31 per cent against an over 3 per cent rise in the benchmark index.