FIIs Bought 24,77,360 Shares: Multibagger Power Generation Stock In Green After Announcing Record Date For 2:1 Stock Split
The stock gave multibagger returns of 124 per cent in just 1 year, 800 per cent returns in 3 years and a whopping 1,400 per cent in 5 years.
On Friday, shares of Nava Ltd surged 1.38 per cent to Rs 997.75 per share from its previous closing of Rs 984.20 per share with an intraday high of Rs 1,007.60 per share and an intraday low of Rs 985.45 per share. The stock’s 52-week high is Rs 1,346.70 per share and its 52-week low is Rs 434.70 per share.
Nava Limited informs that its Board of Directors to enhance the liquidity of the company's equity shares, the Board of Directors has approved a stock split. Each fully paid equity share with a face value of Rs 2 will be subdivided into two equity shares with a face value of Rupee 1 each. The Board fixed the record date as Monday, January 20, 2025.
Nava Ltd, a multinational conglomerate, has its roots in India as a ferroalloy manufacturer. It has diversified into various sectors, including power generation, mining, agribusiness, and healthcare. With significant operations in India, Southeast Asia, and Africa, the company has a substantial presence in the global market. Its power generation assets, including thermal power plants in India and a large-scale power plant in Zambia, contribute significantly to its revenue. Additionally, its mining operations, particularly the coal mining activities in Zambia, provide a strategic advantage. The company's recent foray into agribusiness, specifically avocado plantation in Zambia, showcases its commitment to sustainable growth and diversification.
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According to Quarterly Results, the net sales decreased by 2 per cent to Rs 942.9 crore and net profit increased by 71.7 per cent to Rs 331.9 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, the net sales increased by 9.1 per cent to Rs 2,201.3 crore and net profit increased by 45.1 per cent to Rs 777.6 crore in H1FY25 compared to H1FY24.
The company has a market cap of Rs 15,604 crore and has delivered good profit growth of 31.3 per cent CAGR over the last 5 years. The shares of the company have a PE of 14x, an ROE of 18 per cent and an ROCE of 16 per cent. In September 2024, FIIs bought 24,77,360 shares and increased their stake to 11.02 per cent compared to 9.32 per cent in June 2024. The stock gave multibagger returns of 124 per cent in just 1 year, 800 per cent returns in 3 years and a whopping 1,400 per cent in 5 years. Investors should keep an eye on this power stock.
Disclaimer: The article is for informational purposes only and not investment advice.