FIIs bought 3,34,76,724 shares: Power penny stock under Rs 20 reports a turnaround net profit in Q3FY25; PAT jumps over 400 per cent
The stock is up by 60 per cent from its 52-week low of Rs 7.90 per share and gave multibagger returns of over 500 per cent in 5 years.
The stock market ended the day in red on Thursday with the benchmark Sensex up 0.15 per cent at a level of 76,520 and the Nifty-50 up 0.22 per cent at a level of 23,205. About 2,119 shares advanced, 1,842 declined and 106 were unchanged on the BSE.
Though the market was in green, shares of RattanIndia Power Limited plunged 1.10 per cent to Rs 12.64 per share from its previous closing of Rs 12.78 per share. The shares of the company saw a spurt in volume by more than 1.01 times. The stock’s 52-week high is Rs 21.13 per share and its 52-week low is Rs 7.90 per share.
RattanIndia Power Limited is one of India’s largest private power generation companies, with an installed capacity of 2,700 MW thermal power plants at Amravati and Nashik (1,350 MW at each location) in Maharashtra, India. The company has a market cap of over Rs 6,700 crore.
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According to Quarterly Results, total income increased by 7.5 per cent to Rs 733.32 crore in Q3FY25 compared to Rs 682.43 crore in Q2FY25. The company reported a net profit of Rs 4.33 crore in Q3FY25 compared to a net loss of Rs 2.34 crore in Q2FY25, an increase of 420.7 per cent. In its nine-month results, total income decreased by 3.6 per cent to Rs 2,611.99 crore in 9MFY25 compared to Rs 2,709.05 crore in 9MFY25. The company reported a net profit of Rs 95.98 crore in 9MFY25 compared to a net loss of Rs 1,769 crore in 9MFY25, an increase of 105.4 per cent.
As of December 2024, Power Finance Corporation Limited (PFC) owns a 4.38 per cent stake in the company and REC Ltd (REC) owns a 1.72 per cent stake in the company. In December 2024, FIIs bought 3,34,76,724 shares or a 0.63 per cent stake and increased their stake to 5.02 per cent compared to 4.39 per cent in September 2024. The stock is up by 60 per cent from its 52-week low of Rs 7.90 per share and gave multibagger returns of over 500 per cent in 5 years. Investors should keep an eye on this Small-Cap power company.
Disclaimer: The article is for informational purposes only and not investment advice.