Sizeable block deals by AMCs in this company after shares soared more than 150 per cent in just one year!
Shares have returned nearly 90 per cent year-to-date and are trading near 52-week high.
While mixed investor sentiments were observed on the sectoral front, Indian benchmark indices once again reached all-time highs. The BSE Sensex surged 0.42 per cent to 65,479 level at the close. The Nifty 50 index gained 0.34 per cent to a level of 19,389.
TD Power Systems Ltd, a heavy electrical equipment stock, has been in the spotlight following significant block deals by LIC Mutual Fund, Quant Mutual Fund and others. Shares of TD Power Systems Ltd ended the session near its 52-week high of Rs 249.55 per share on the BSE. Shares of the company have soared around 90 per cent year-to-date while providing outstanding returns of more than 150 per cent over the last year!
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Considering the company's quarterly financial performance, it recorded a considerable growth of 9.98 per cent from Rs 227.17 crore registered in Q4FY22, recording total revenue of Rs 249.85 crore in Q4FY23. When comparing the net profit for the fourth quarter of FY23 to the same quarter the previous year, it climbed by 43.34 per cent from Rs 24.66 crore to Rs 35.35 crore.
Incorporated in 1999, TD Power Systems Ltd is one of the leaders in the production of AC generators worldwide, manufacturing units with outputs ranging from 1 MW to 200 MW for prime movers including steam turbines, gas turbines, hydro turbines, wind turbines and diesel engines. The company has a healthy and diversified order book, with orders from railways accounting for a sizeable portion.
Keep a close eye on this stock for the upcoming sessions!