President of India's Portfolio Company Rallies, Hits Upper Circuit with Heavy Volumes, Gains Around 250 per cent in Just 1 Year: A Must-Watch!
The shares of the company have delivered a return of over 450 per cent to its shareholders.
This Large-Cap Finance company is a Central Public Sector Undertaking under the Ministry of Power involved in financing projects across the complete power sector value chain from generation to distribution. Today the company experienced a significant surge in its share price.
At the start of the day's trading session, the stock opened at Rs 470.60 per share, compared to the previous day's closing figure of Rs 459.45 per share on the BSE. As of the time of writing this article, the shares are currently at Rs 505.35 per share on the BSE. The stock has reached the upper circuit price limit of 10 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. The current market capitalization of REC Limited stands at Rs 1,34,939 crore, and the stock has generated an impressive multibagger return of around 249 per cent in just 1 year only.
Stock Price Chart (Daily)
Financial Performance
As per the Quarterly Results, in the fourth quarter of FY24, the company recorded a revenue of Rs 12,677 crore, marking a 23.76 per cent year-on-year growth from Rs 10,243 crore in Q4 FY23. The operating profit for Q4 FY24 stood at Rs 13,102 crore, compared to Rs 10,392 crore in the same quarter of the previous fiscal year. The net profit for Q4 FY24 was Rs 4,079 crore, compared to Rs 3,065 crore. Looking at the annual performance, the company generated a revenue of Rs 47,505 crore in FY24, compared to Rs 39,486 crore in FY23. The operating profit for FY24 was Rs 47,865 crore, with a net profit of Rs 14,145 crore.
Regarding the shareholding pattern, the promoters own 52.63 per cent of the company, while FIIs and DIIs collectively hold 19.91 per cent and 15.44 per cent, respectively. Public or retail investors hold the remaining 11.96 per cent.
Investors must keep this large-cap multibagger stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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