Turnaround Power Transmission and Distribution Stock with 1,110 Per cent Multibagger Returns Hits Lower Circuit Today – Here’s Why!
FIIs have continuously increased their stake for five consecutive quarters without any gaps.
GE T&D India Ltd is the listed entity of GE’s Grid Solutions business in India. It has been in the power transmission and distribution business for more than 100 years and provides a versatile range of solutions for connecting power generation sources to the grid and evacuating power from them.
The promoters of a company are set to sell 11.7 per cent of the company's paid-up equity share capital, equivalent to 30 million shares (face value Rs 2/- each), through an Offer for Sale (OFS) mechanism on September 19, 2024, for non-retail investors, and September 20, 2024, for retail investors and unallotted non-retail bids. The sellers have an option to sell an additional 3.9 per cent (10 million shares) under an oversubscription option. The OFS will be conducted via a designated window on BSE, with J.P. Morgan India Private Limited acting as the sellers' broker. The sale will be in line with SEBI’s revised OFS guidelines.
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Today, the shares of GE T&D India Ltd shares closed the day at Rs 1606.85 per share. The company’s current market capitalisation stands at Rs 41,142.84 crore. The stock has delivered a multibagger return of over 300 per cent in just 1 year.
As per the Quarterly Results, in Q1 FY25, GE T&D India Ltd recorded a revenue of Rs 958 crore. The operating profit for Q1 FY25 stood at Rs 182 crore. The net profit for Q1 FY25 was Rs 135 crore. Looking at the annual performance, the company generated a revenue of Rs 3168 crore in FY24, compared to Rs 2773 crore in FY23. The operating profit for FY24 was Rs 319 crore, with a net profit of Rs 181 crore.
As per the shareholding pattern, the promoter owns 75 per cent, FIIs increased their stake from 1.20 per cent to 2.04 per cent, while DIIs hold 14.96 per cent, and public investors hold 8 per cent.
Investors must keep this Small-Cap company on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.