1:4 Bonus Shares & 340 Per Cent Returns From 52-Week Low: Multibagger Solar Stock To Keep Under Radar; Check Record Date Inside
From Rs 48 to Rs 1,824.95 per share, the stock rocketed over 3,700 per cent in 3 years.
Solex Energy Ltd is a renewable energy company specializing in manufacturing solar panels and other related devices, such as solar lanterns, street lights, water pumps, and inverters. Beyond manufacturing, the company offers comprehensive solar solutions to residential, commercial, and governmental clients. Their services include designing, procuring, and constructing solar power plants for both residential and commercial sectors, providing a one-stop solution for those looking to harness solar energy.
The Company is pleased to announce that it will be issuing bonus shares to its shareholders in the ratio of 1:4. This means that for every 4 existing fully paid-up equity shares of Rs 10 each held by the eligible shareholders as of the Record Date, they will receive 1 new fully paid-up equity share of Rs 10 each. The Record Date for determining eligibility for the bonus shares has been fixed as Friday, September 13, 2024.
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Earlier, the company received a Work Order from Torrent Power Limited for the development of a 3075 KWp rooftop and ground-mount solar power plant. The project, valued at Rs 10,39,32,288 is inclusive of all duties and taxes. The project is scheduled to be completed by March 31, 2025.
On Tuesday, shares of Solex Energy Ltd gained 3.33 per cent to an intraday high of Rs 1,824.95 from its previous closing of Rs 1,766.05. The stock’s 52-week high is Rs 1,919.1 and gave multibagger returns of 340 per cent from its 52-week low is Rs 415. From Rs 48 to Rs 1,824.95 per share, the stock rocketed over 3,700 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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