General Insurance Corporation of India gains Rs 2,67,58,435 in just 1 day from this multibagger electrical equipment stock; Board announces 1:2 stock split!
The stock gave multibagger returns of over 100 per cent in just 1 year whereas BSE Small-Cap Index is up by 67 per cent.
Today, the stock market is trading in green with BSE Sensex Index and NSE Nifty-50 Index surging by 0.20 per cent each. Along with the market in green, this multibagger Small-Cap stock from the electrical equipment sector gained 3.90 per cent and made a fresh 52-week high of Rs 6,649 per share from its previous closing of Rs 6,399.15 per share.
Before revealing the stock name, let's see how General Insurance Corporation of India gained Rs 2,67,58,435 in just 1 day from this stock.
General Insurance Corporation of India owns 1,07,098 shares or a 1.9 per cent stake in the company as of December 2023.
Therefore; 1,07,098 shares x 249.85 per share (i.e., intraday high price minus previous closing price) = Rs 2,67,58,435 in just 1 day.
The buzzing stock name is Bharat Bijlee Ltd (BSE: 503960; NSE: BBL)
Bharat Bijlee, founded in 1946, is a prominent Indian electrical engineering company. They specialize in manufacturing various electrical equipment including transformers, motors, elevator systems, and automation drives. Additionally, they offer complete solutions for building high voltage (EHV) switchyards, medium and high voltage (HV & MV) substations, and electrical balance of plant (EBOP) systems. Their operations are divided into two key segments: Power Systems and Industrial Systems.
- Power Systems focuses on designing, commissioning, and selling power transformers, managing electrical substation construction projects, and servicing transformers along with selling maintenance products.
- Industrial Systems deals with the development, marketing, and manufacturing of a wide range of electric motors & magnet technology machines and designing and supplying drive & automation systems for various industries.
The Board of Directors of Bharat Bijlee announced a stock split of equity shares in the ratio 1:2 i.e., determining eligibility of shareholders of the company, for sub-division / split of existing 1 equity share of face value of Rs 10 each, fully paid up, into 2 equity shares of face value of Rs 5 each, fully paid up. The company fixed the record date for the stock split as Wednesday, April 24, 2024.
The company has a market cap of Rs 3,700 crore and has delivered good profit growth of 28.8 per cent CAGR over the last 5 years & has been maintaining a healthy dividend payout of 22.8 per cent. The stock gave multibagger returns of over 100 per cent in just 1 year whereas BSE Small-Cap Index is up by 67 per cent.
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Disclaimer: The article is for informational purposes only and not investment advice.
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