Turnaround Story: This Power Stock Under Rs 20 Hits Upper Circuit Today; FIIs Purchased 8,86,06,751 Shares!
The shares of the company gained more than 200 per cent in the last 1 year.
The company is one of India’s largest private power generation companies, with an installed capacity of 2,700 MW. The company operates thermal power plants in Amravati and Nashik, each with a capacity of 1,350 MW, located in Maharashtra, India.
At the start of the day's trading session, the stock opened at Rs 15.20 per share, compared to the previous day's closing figure of Rs 15.26 per share on the BSE. Finally, the shares closed at Rs 16.02 per share. The stock has hit the upper circuit, reflecting strong demand in the market. The company's current market capitalization stands at Rs 8602.91 crore, and the stock has generated an impressive multibagger return of around 213 per cent in the past 1 year.
As per the Quarterly Results, in Q4 FY24, RattanIndia Power Limited recorded a revenue of Rs 914 crore. The operating profit for Q4 FY24 stood at Rs 206 crore. The net profit for Q4 FY24 was Rs 10,666 crore. Looking at the annual performance, the company generated a revenue of Rs 3364 crore in FY24, compared to Rs 3231 crore in FY23. The operating profit for FY24 was Rs 646 crore with a net profit of Rs 8897 crore.
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According to the shareholding pattern of RattanIndia Power Limited, promoters own a 44.06 per cent stake, while public investors hold 45.67 per cent. Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) hold 3.69 per cent and 6.57 per cent stakes, respectively. In the most recent quarterly update, FIIs have increased their stake, whereas DIIs have slightly reduced theirs.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.