1,431 per cent returns: 5,69,800 equity shares allotted to promoter; Solar power plant to set-up from internal accruals- Don’t miss the action in this small-cap stock!

Another noteworthy update is that the company is setting up a solar power plant for captive consumption, with a proposed capacity addition of 400 KWP DC and an investment requirement of Rs.

Indian markets, which were roaring like a lion in the first part of the trading session, have suddenly experienced a crash landing as the NSE benchmark Nifty 50 index slipped more than 220 points from the day's high, trading down by nearly 0.80 per cent. The majority of the sectoral indices were seen trading in the red, led by Nifty Media, which was down by over 4 per cent, while Realty and PSU Bank witnessed some buying interest.

Amidst this gloomy backdrop, there is an interesting development worth noting, related to a Small-Cap multibagger stock which has surged like a phoenix, delivering a remarkable return of 1,431.10 per cent in just the last three years. The returns in the last year are equally impressive, with an advance of 336.76 per cent. The stock in question is Taneja Aerospace and Aviation Ltd (TAAL), engaged in various aviation-related business activities, including Aircraft & Aerospace Manufacturing and Aviation Infrastructure such as Airfield & MRO.

On Wednesday, the Board of Directors considered and approved the allotment of 5,69,800 equity shares of Rs. 5/- each at a price of Rs. 351/- per share (including a premium of Rs. 346/- per share), aggregating to an amount of Rs. 19,99,99,800/- through a preferential issue to M/s. Asscher Enterprises Limited, a Promoter of the Company. Post-preferential allotment, the number of shares held by M/S Asscher Enterprises Ltd is 1,32,23,099, accounting for 51.85 percent of the holding.

Another noteworthy update is that the company is setting up a solar power plant for captive consumption, with a proposed capacity addition of 400 KWP DC and an investment requirement of Rs. 1.64 crore, which will be financed from internal accruals. With the proposed Solar project, the company aims to save on power costs while embracing an environmentally friendly and sustainable green energy source.

Disclaimer: The article is for informational purposes only and not investment advice.