Multibagger Penny Stock Under Rs 30: Salt company successful commissioning of the expanded captive solar power plant at Nawa Refinery
The stock is up by 50 per cent from its 52-week low of Rs 15.47 per share and gave multibagger returns of 500 per cent in 5 years.
On Friday, shares of Saboo Sodium Chloro plunged 1.12 per cent to Rs 26.50 per share with an intraday high of Rs 26.99 and an intraday low of Rs 26.27.
Saboo Sodium Chloro Limited (SSCL) has taken a significant step towards a greener future with the successful commissioning of an additional 150 kW of solar power capacity at its Nawa refinery in Rajasthan. This expansion brings the total solar power capacity at the refinery to 650 kW, further strengthening SSCL's commitment to sustainable operations.
The newly commissioned solar power plant, which went live on November 6, 2024, is already generating clean and renewable energy. This increased solar capacity is expected to yield substantial benefits, including significant cost savings of approximately INR 40,00,000 annually. By harnessing the power of the sun, SSCL is not only reducing its reliance on conventional energy sources but also contributing to a cleaner and greener environment.
Saboo Sodium Chloro Ltd, established in 1993, is a diversified conglomerate with a strong focus on salt production and a diverse range of other ventures. The company is a leading manufacturer and seller of salt, offering a variety of products including Surya Salt, Tota Salt, and Saboo Salt. Beyond salt, Saboo Sodium Chloro Ltd is involved in the production and distribution of spices, guar gum, and renewable energy through wind and solar power projects. Additionally, the company undertakes turnkey projects for salt iodization units and is developing ambitious infrastructure projects like ropeways and luxury hotels and resorts.
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The company has a market cap of over Rs 100 crore with a 5-year stock price CAGR of 45 per cent. The stock’s 52-week high is Rs 34.72 and its 52-week low is Rs 15.47. The stock is up by 50 per cent from its 52-week low of Rs 15.47 per share and gave multibagger returns of 500 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.