5:1 Bonus Share & Rs 1,800 Crore Order Book: Only Buyers In This Multibagger Solar Pump Stock; Locked In Upper Circuit On January 20
The stock gave multibagger returns of 1,815 per cent in 2 years and a whopping 3,640 per cent in 5 years.
On Monday, one of the Top Gainers on BSE & NSE, shares of this multibagger solar pumps manufacturer hit a 5 per cent upper circuit to Rs 1,100 per share from its previous closing of Rs 1,047.65 per share. The stock gave multibagger returns of 753 per cent from its 52-week low of Rs 174.21 per share.
The buzzing stock name is Shakti Pumps (India) Limited (SPIL)
Shakti Pumps (India) Limited has announced plans to raise up to Rs 400 Crores through one or more Qualified Institutional Placements (QIPs). This capital will be used to fuel the company's growth, potentially including expanding manufacturing capabilities, investing in research and development, and pursuing strategic acquisitions. The company will issue Equity Shares in one or more tranches, subject to obtaining necessary approvals and complying with all applicable regulations. The final issue price and other QIP terms and conditions will be determined in accordance with relevant laws and regulations.
Shakti Pumps, a prominent Indian manufacturer renowned for its "Shakti" brand, specializes in high-quality pumps and motors for diverse applications, including irrigation and domestic water supply. Established in 1982, Shakti Pumps is at the forefront of innovation, focusing on energy-efficient solutions, particularly solar-powered pumps. With in-house manufacturing of key components, they offer comprehensive solar pump solutions. Committed to sustainable agricultural practices, Shakti Pumps exports its products to over 100 countries globally and holds the distinction of being India's first 5-star rated pump manufacturer.
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The company boasts a market capitalization of over Rs 13,000 crore and, as of September 30, 2024, held an unexecuted order book valued at Rs 1,800 crore. In Q2FY25, the company experienced significant growth, with Revenue from Operations surging 315.3 per cent to Rs 634.6 crore compared to Rs 152.8 crore in Q2FY24. Profit After Tax (PAT) for the quarter witnessed a remarkable 1618.6 per cent increase, reaching Rs 101.4 crore from Rs 5.9 crore in Q2FY24. For the first half of FY25 (H1FY25), revenue climbed 352.3 per cent to Rs 1,202.2 crore, surpassing H1FY24's Rs 265.8 crore. PAT for the period surged 2,713 per cent to Rs 194.1 crore in H1FY25 compared to Rs 6.9 crore in H1FY24.
Recently, the shares of the company ex-traded bonus Shares in the ratio of 5:1, i.e., 5 new fully paid-up equity shares for every 1 existing fully paid-up equity share. The ex-date for bonus shares was Monday, November 25, 2024. After the bonus issue, the stock rallied 74.33 per cent. The stock gave multibagger returns of 1,815 per cent in 2 years and a whopping 3,640 per cent in 5 years. Investors should keep an eye on this solar pump stock.
Disclaimer: The article is for informational purposes only and not investment advice.