Promoters Bought 30,55,788 Shares: This Power Equipment Manufacturing Company's Stock Hit Upper Circuit Today with Heavy Volumes!
The company’s shares have delivered an impressive return of over 480 per cent in just 1 year only.
Incorporated in 1975, S&S Power Switchgear Ltd operates in the transmission and distribution equipment industry, focusing on switchgear, protection and control (P&C) solutions, and associated electrical systems, products, and services. The company is a key player in the power and T&D equipment industry, emphasizing switchgear and P&C systems. Its target markets include emerging economies, developing countries, the UK, and India.
At the start of the day's trading session, the stock opened at Rs 387.55 per share, compared to the previous day's closing figure of Rs 369.10 per share on the BSE. Finally, the shares closed at Rs 387.55 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. The company's current market capitalization stands at Rs 478.30 crore, and the stock has generated an impressive multibagger return of over 480 per cent in the past 1 year.
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As per the Quarterly Results, in the fourth quarter of FY24, S&S Power Switchgear Ltd recorded a revenue of Rs 43.10 crore. The operating profit for Q4 FY24 stood at Rs 2.90 crore. The net profit for Q4 FY24 was Rs 0.98 crore. Looking at the annual performance, the company generated a revenue of Rs 159 crore in FY24, compared to Rs 140 crore in FY23. The operating profit for FY24 was Rs 11 crore, with a net profit of Rs 4 crore.
Regarding the shareholding pattern, the promoters own 74.97 per cent of the company which was earlier 50.21 per cent and the public or retail investors hold 24.82 per cent. DIIs own a 0.21 per cent stake in the company.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.