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Ace investors raises stake in Capacite Infraprojects

Capacit'e Infraprojects Limited is a rapidly expanding firm that specialises in the construction of ultra-high-rise residential, commercial, and institutional structures. The company offers turnkey construction services for a wide range of building types, including homes, garages, office complexes, shopping centres, hotels and medical facilities. The Company is capable of constructing both concrete and composite steel building frameworks. Additionally, it offers MEP (mechanical, electrical, and plumbing) and finish construction services. Company operations are concentrated in the greater Mumbai area, the National Capital Region, and the greater Bengaluru area. Its "West Zone" includes the Greater Mumbai Area and Pune, while the "North Zone" includes the National Capital Region and Patna, and the "South Zone" includes Bengaluru, Chennai, Hyderabad, and Kochi.  Contract worth Rs. 335.38 crore from Bharat Sanchar Nigam Limited (BSNL), a Government of India Enterprise, for construction of buildings for Unified Network Management System, including finishing work, water supply & sanitary installations, electrical installations and cable laying, automatic fire detection & fire-fighting system, lifts, and such other development works, is just one example of Capacit'e Infraprojects' healthy order book. Construction of a residential and commercial tower in the National Capital Region (NCR) has been ordered from Capacite Infraprojects for a total of Rs. 452.50 crore by a reputable private sector client.

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Meanwhile, shares of Capacite Infraprojects Ltd have been on a steady upswing over the past few days thanks to the addition of 2.42% of the company, or 16.38 lakh shares, by ace investor Mukul Agarwal in the quarter ending in June 2023. The stock, which closed on June 23 at Rs. 187 reached a new high on NSE of Rs 221 yesterday. The construction firm saw its stock price increased by more than 18% from past few sessions, from the previous close of Rs 187 to Rs 221. Today share price also jumped to Rs 233.90 in the morning session. In the past year, the stock has increased by 88.01 percent, and in 2023, it has increased by 38.66 percent.

On the BSE, 1.62 million shares of Capacite Infraprojects were traded, for a total value of Rs 3.51 crore. The company's market value increased on the BSE to Rs 1490.22 crore. The stock's RSI is currently 64.4, putting it in a neutral technical trading range between the overbought and oversold levels. The beta of Capacite Infraprojects stock for the past year is 1.1, which indicates strong volatility. The price of Capacite Infraprojects' stock is above its five, twenty, fifty, one hundred, and two hundred day moving averages. Stock is currently in bull phase and next target may be near Rs. 300.

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