Heavy buying: Back-to-back upper circuit in this multibagger penny stock; gains over 400 per cent!

Shares of the company gained more than 110 per cent in the last six months.

Shares of RattanIndia Power 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. In the last six months, the stock has gained more than 110 per cent.

The company posted flat Quarterly Results in Q4FY24. The revenue of the company stood at Rs 913.96 crore which increased by 1.49 per cent YoY. The operating profit of the company stood at Rs 287.80 crore. The company’s PAT stood at Rs 10,665.75.97 crore due to exceptional income in Q4FY24.

Shares of RattanIndia Power Limited have also delivered multibagger returns to their shareholders in the last one year. During this period, the company’s share price jumped from Rs 3.45 on June 01, 2023, to Rs 19.15 on May 31, 2024, an increase of about 400 per cent in the last one-year holding period.

RattanIndia Power Limited is one of India’s largest private power generation companies, with thermal power plants at Amravati and Nashik in Maharashtra. The power plants are spread over an area of 2,400 acres. The company counts marquee funds like Goldman Sachs and VardePartners, USA as investors in the business. The Group has created a world-class power generation asset with a deep focus on execution using best-in-class equipment and technology.

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.