1:4 bonus shares announced: Multibagger solar power stock with 21,813 per cent returns, hit back-to-back upper circuits & 52-week highs!
The stock gave multibagger returns of 21,813 per cent from its 52-week low of Rs 2 per share.
On Monday, shares of Ujaas Energy Ltd were locked in a 5 per cent upper circuit to Rs 438.25 per share. The stock also made a fresh new 52-week high of Rs 438.25 per share while its 52-week low is Rs 2 per share. The shares of the company have a PE of 75x and an ROE of 55 per cent. In recent trading sessions, the stock has been hitting back-to-back upper circuits & 52-week highs.
Ujaas Energy Ltd, established in 1999, is a solar power company involved in generating, selling, and servicing solar power plants. It operates under the "UJAAS" brand, developing, owning, and maintaining solar energy power plants. The company offers engineering, procurement, construction, solar park, and rooftop solutions, along with operations and maintenance services. With an installed capacity of approximately 14 MW and over 235 MW of solar power plants set up, Ujaas Energy provides various solar power solutions through its Ujaas Park, Ujaas My Site, and Ujaas Home platforms. Additionally, the company manufactures transformers and has ventured into the electric two-wheeler market with its E-Spa brand.
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Ujaas Energy Ltd proposes a bonus share in the ratio 1:4 i.e., issue of one new fully paid-up Re. 1 equity share for every four existing fully paid-up Re. 1 equity shares held by public shareholders (excluding promoters) as on the record date, subject to shareholder approval at the upcoming AGM. This bonus issue, to be funded by utilizing share premium and free reserves, will increase the authorized share capital from Rs 30 crore to Rs 45 crore. Approximately 13,25,318 bonus shares will be issued, resulting in a post-bonus share capital of Rs. 10,66,26,590. The bonus shares are expected to be credited/dispatched within two months of board approval. Additionally, the company seeks shareholder approval for fundraising through FPO, ADR, GDR, QIP, or right issue up to Rs 500 crore at the ensuing AGM.
The company has a market cap of Rs 4,615 crore and has delivered good profit growth of 42.9 per cent CAGR over the last 5 years. The stock gave multibagger returns of 21,813 per cent from its 52-week low of Rs 2 per share. 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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