This low-priced multibagger, upper-circuit stock is about to invest Rs 300 crore in an ethanol plant; do you own it?
The stock is currently trading at Rs 26 and touched its upper circuit on Friday’s trading session. Since its listing, the company has given a multibagger returns of 1,587.18 per cent.
Kanoria Energy & Infrastructure Limited Board of Directors has scheduled a meeting on Thursday, November 30, 2023, to consider and approve, among other matters, an investment of up to Rs 300 crores towards setting up a 250 KLPD Grain-Based Fuel Ethanol Plant at Hargarh, District Jabalpur, Madhya Pradesh.
The proposed plant is expected to produce ethanol, a renewable biofuel, which can be blended with gasoline to reduce greenhouse gas emissions. The project is subject to the approval of the company’s shareholders.
For the second quarter, Kanoria Energy & Infrastructure Limited reported sales were Rs 65.65 crores compared to Rs 61.31 crores a year ago with the gain of 7.06 per cent. Revenue was Rs 65.72 crores compared to Rs 61.31 crores a year ago. Net income was Rs 1.15 crores compared to Rs 0.679 crores a year ago with the gain of 71.64 per cent.
For the six months, sales were Rs 194.467 crores compared to Rs 154.685 crores a year ago. Revenue was Rs 194.6 crores compared to Rs 155.041 crores a year ago. Net income was Rs 6.349 crores compared to Rs 5.647 crores a year ago.
The stock is currently trading at Rs 26 and touched its upper circuit on Friday’s trading session. Since its listing, the company has given a multibagger return of 1,587.18 per cent. It is a high promotor stake company with almost 74 per cent shareholding.
About Company
A Infrastructure Ltd is into manufacturing of products ranging from Asbestos Cement Pressure Pipes & Asbestos Cement Sheets.
Disclaimer: The article is for informational purposes only and not investment advice.
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