5:1 stock split & 73,000 per cent returns: Multibagger solar stock hit upper circuit after bagging an order worth Rs 1233,47,78,778
The stock gave multibagger returns of 447 per cent in just 1 year, 3,500 per cent in 3 years and a whopping 73,000 per cent in 10 years.
On Thursday, shares of Waaree Renewable Technologies Ltd (WRTL) hit a 5 per cent upper circuit to Rs 1,494.45 per share from its previous closing of Rs 1,423.30 per share. The stock’s 52-week high is Rs 3,037.55 while its 52-week low is Rs 268.10. The shares of the company saw a spurt in volume by more than 1.30 times on BSE.
Waaree Renewable Technologies Limited (WAAREERTL) has secured a significant contract to undertake the Engineering, Procurement, and Construction (EPC) for a 2012.47 MWp DC ground-mounted solar PV project. This domestic project, valued at approximately Rs 1233,47,78,778 (excluding taxes), will be executed by WAAREERTL, a company specializing in renewable energy project development and implementation. The specific timeline for project execution will be determined mutually between the parties involved.
Additionally, shares of the company ex-traded sub-division/ split of the existing 1 equity share of the face value of Rs 10 each fully paid up into 5 equity shares of the face value of Rs 2 each fully paid up, subject to shareholders' approval with ex-date of stock split was Friday, March 15, 2024.
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Waaree Renewables Technologies Ltd is engaged in the business of generation of power through renewable energy sources and also provides consultancy services in this regard. WRTL has a market cap of over Rs 15,000 crore and has delivered good profit growth of 145 per cent CAGR over the last 5 years. The company’s order book as of September 30, 2024, stands at Rs 1.70-GW.
The shares of the company have an ROE of 93 per cent and an ROCE of 103 per cent. The stock gave multibagger returns of 447 per cent in just 1 year, 3,500 per cent in 3 years and a whopping 73,000 per cent in 10 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.