Debt-free multibagger power penny stock under Rs 30 hits back-to-back 20 per cent upper circuits; Board likely to increase authorized share capital of the company!
The stock is trading at 0.70 times its book value and gave multibagger returns of over 100 per cent from its 52-week low of Rs 13.60 per share.
VEER ENERGY & INFRASTRUCTURE LTD has scheduled a board meeting on September 3, 2024, at 12:00 PM. The meeting will be held at the company's registered office in Mumbai to discuss increasing the authorized share capital, approving the draft notice for the 44th Annual General Meeting, fixing the book closure date, and addressing any other necessary matters.
Veer Energy & Infrastructure Limited has successfully sold a high-tech wind turbine installation valued at Rs 429 lakh, aligning with its commitment to sustainable energy solutions. The wind turbine, with a capacity of 800 KW or 850 KW, is part of a larger installation with a total capacity of 2450 KW, strategically located in Kutch, Gujarat. This transaction represents a significant step forward in the company's mission to promote clean and renewable energy, while also underscoring its dedication to providing exceptional service. Veer Energy & Infrastructure will continue to oversee the operation and management of the sold wind turbine, leveraging its cutting-edge technology to enhance its capabilities in generating sustainable energy and contributing to reducing carbon emissions. This strategic move reinforces the company's position as a leader in the renewable energy sector.
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On Friday, shares of Veer Energy & Infrastructure Ltd hit a 20 per cent upper circuit to Rs 29.46 per share from its previous closing of Rs 24.56. The stock’s 52-week high is Rs 33 and its 52-week low of Rs 13.60. The stock has been hitting back-to-back 20 per cent upper circuits and saw a spurt in volume by more than 2 times on BSE.
The company has a market cap of Rs 44 crore and as of June 2024, it is debt-free. The stock is trading at 0.70 times its book value and gave multibagger returns of over 100 per cent from its 52-week low of Rs 13.60 per share. Investors should keep an eye on this power penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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