Heavy buying: Back-to-back upper circuit in this multibagger penny stock; gains over 200 per cent!

Shares of the company gained more than 50 per cent in the last six months.

Shares of GMR Power and Urban Infra Limited were locked in the upper circuit on Friday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit.

The company's financial position has improved, with a debt prepayment and revenue expected to rise due to new AMI project contracts. Additionally, asset sales and land monetization have provided a financial boost. The company's energy business is also a strength, with a diversified portfolio and improved capacity utilization at its power plants. An increased stake in GMR Energy Limited further strengthens its revenue stream in this area.

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The company posted weak Quarterly Results. The revenue of the company for Q3FY24 stood at Rs 1102.79 crore which declined by 23.57 per cent YoY. The operating profit of the company stood at Rs 402.59 crore, while the PAT of the company stood at Rs 116.84 crore, from a profit of Rs 403.39 crore last year same quarter.

GMR Power and Urban Infra Limited is a diversified infrastructure player and a subsidiary of GMR Enterprises Private Limited holds expertise in the sectors of Energy, Urban Infrastructure and Transportation. The stock has also delivered multibagger returns of over 200 per cent in the last one year.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

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