LIC & SBI-Backed Multibagger Stock Hits Upper Circuit; BlackRock Bought 42,78,616 Shares on July 8!
FIIs and DIIs have increased their stake and the company’s shares have delivered a multibagger return of over 175 per cent in just 1 year.
Swan Energy Limited was originally incorporated in 1909 as Swan Mills Ltd. (SML), a manufacturer and marketer of cotton and polyester textile products in India. Over the years, it diversified into real estate and is currently developing a Floating Storage and Regasification Units (FSRU)-based liquefied natural gas (LNG) import terminal at Jafrabad in Gujarat.
On July 8, 2024, BlackRock Emerging Frontiers Master Fund Limited purchased 2,458,508 shares of Swan Energy Limited at a price of Rs 668 each, and BlackRock Global Funds India Fund bought 1,820,108 shares at the same price.
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At the start of the day's trading session, the stock opened at Rs 725.25 per share, compared to the previous day's closing figure of Rs 690.75 per share on the BSE. Currently, the shares are at Rs 725.25 per share on the BSE. The stock has reached the upper circuit price limit of 5 per cent, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers. Swan Energy Limited's current market capitalization stands at Rs 22733.46 crore, and the stock has generated an impressive multibagger return of over 175 per cent in the past 1 year.
As per the Quarterly Results, in the fourth quarter of FY24, Swan Energy Limited recorded a revenue of Rs 1398 crore. The operating profit for Q4 FY24 stood at Rs 118 crore. The net profit for Q4 FY24 was Rs 56 crore. Looking at the annual performance, the company generated a revenue of Rs 5017 crore in FY24, compared to Rs 1438 crore in FY23. The operating profit for FY24 was Rs 868 crore, with a net profit of Rs 586 crore.
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Regarding the shareholding pattern, the promoters own 53.96 per cent of the company and the public or retail investors hold 20.53 per cent. Both the FIIs and DIIs have increased their stake in the company as per the latest update.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.