LIC & ICICI Bank Backed Stock Under Rs 20: Multibagger Power Stock Hits Upper Circuit Today; FIIs Purchased 10.48 Crore Shares!

The company’s shares have delivered a multibagger return of over 210 per cent to its shareholders in the past 1 year.

This Small-Cap company operates in coal mining, sand mining, cement grinding, and the production of thermal and hydroelectric electricity. Today, the company's stocks gained significant traction and hit the upper circuit.

Today, shares of Jaiprakash Power Ventures commenced trading at Rs 17.98 per share, higher compared to the preceding day's closing figure of Rs 17.91 per share. Currently, the company's shares are at Rs 18.80 per share representing an impressive rally of 4.97 per cent on the BSE. The market capitalization of the company stands at Rs 12,884.50 crore. Additionally, the stock has delivered an impressive multibagger return of around 215 per cent in the past year.

According to the company’s press release, the 147th meeting of the Board of Directors will take place on Saturday, July 27, 2024. During this meeting, the Board will review and approve the unaudited standalone and consolidated financial results for the quarter ending June 30, 2024.

As per the Quarterly Results, in the fourth Quarter of FY24, Jaiprakash Power Ventures reported a revenue of Rs 1515 crore, representing an impressive year-on-year growth of 9.78 per cent from Rs 1380 crore in the same quarter last year. The operating profit of the company stands at Rs 727 crore, with an operating profit margin of 48 per cent compared to an operating profit of Rs 227 crore in the same quarter last year. The net profit of the company stood at Rs 589 crore in the Q4 FY24, compared to a loss of Rs 44 crore in the same period last year.

Investors must keep this small-cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.