Mukul Agrawal Recently Bought Stock Hits Upper Circuit; Benefits from Data Centre Growth and PLI Scheme, Promoter Holding at 70.92%

The company also supports the efficient operation of data centers

Indian equity benchmark indices began the week positively. After initial volatility, the bulls gained control, with the Nifty50 closing 0.61 per cent higher, surpassing the 23,300 level. The banking and financial sectors were the highlights, with the Nifty Bank index rising 1.67 per cent to close above 49,350.

Among the day's notable performers was KRN Heat Exchanger and Refrigeration Ltd., whose share price surged 10 per cent on Monday, January 20, 2025, and hit the upper circuit limit.

KRN Heat Exchanger and Refrigeration Ltd. is a prominent manufacturer and exporter specializing in aluminum and copper fin heat exchangers, water coils, condenser and evaporator coils. Its products cater to leading OEMs in the heating, ventilation, air conditioning, and refrigeration (HVAC&R) industry. Renowned clients include Daikin India, Schneider Electric, Voltas, Carrier, Eberspaecher, Kirloskar, Blue Box, Knorr-Bremse, among others.

The company also supports the efficient operation of data centers by providing advanced heat exchangers that help manage excess heat and maintain optimal temperatures, ensuring the reliability of critical infrastructure.

The stock gained attention after its subsidiary, KRN HVAC Products Private Limited, was selected under the Production Linked Incentive (PLI) Scheme for White Goods with a committed investment of Rs 141.72 crore for heat exchangers.

Adding to the buzz, ace investor Mukul Mahavir Agrawal increased his stake in the company, acquiring 10,00,000 shares (1.61 per cent of the company, based on the December 2024 shareholding pattern).

Key metrics for KRN Heat Exchanger and Refrigeration Ltd. include:

• Return on Equity (ROE): Approximately 42 per cent.
• Promoter Holding: 70.79 per cent (as of December 2024).
• Stock Performance: Up 79.33 per cent over the past three months and 17.81 per cent in the last month

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