Multibagger penny stock under Rs 40 with 4,000 per cent returns: This textile company bags a new 9.50 MWp Rooftop Solar Power Project!

The company announced a Rs 1,000 million capex plan for its chemical business with commercial operation expected in March 2024.

Trident Ltd informed that the company has successfully commissioned their new rooftop solar power project of 9.50 MWp capacity at Budhni, Madhya Pradesh. The power generated from this new solar power project shall be consumed captively for manufacturing facilities located at Budhni, Madhya Pradesh, resulting in a considerable reduction of carbon footprint for the company.

Additionally, the company announced a Rs 1,000 million capex plan for its chemical business with commercial operation expected in March 2024.

Trident Ltd. produces textiles, paper, yarn, and chemicals. The company manufactures towels, printing paper from wheat straw, weaving and hosiery yarns, and sulphuric acid.

Talking about the financials, Trident has a market cap of Rs 18.870 crore and has been maintaining a healthy dividend payout of 41.3 per cent. The company reported positive numbers in its Quarterly Results and annual results. The promoter of the company owns the majority of the stake i.e., 73.19 per cent.

On Wednesday, shares of Trident Ltd plunged 1.02 per cent to Rs 36.88 per share with an intraday high of Rs 37.25 and an intraday low of Rs 36.85. The stock’s 52-week high is Rs 43.75 and its 52-week low is Rs 25.10.

The stock gave multibagger returns of 370 per cent in 3 years, 550 per cent in 5 years and a whopping 4,000 per cent in a decade. Investors should keep an eye on this textile stock.

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