Under Rs 35: Microcap Power Generation and Infrastructure Development Company’s Stock Rallied and Hits Upper Circuit Today; FIIs Increased Stake in Q1 FY25!
The company’s shares have delivered a return of over 80 per cent to its shareholders in the past 1 year.
Incorporated in 1995, Energy Development Company Ltd specializes in power generation and the sale of bulk power, as well as trading power equipment. The company operates in various sectors, including power generation, infrastructure development (such as bridge construction and hydro projects), and consultancy services. It generates clean, green electricity from water and wind in its own power plants and develops energy and infrastructure projects for other developers. The Company simultaneously generates clean, green electricity from water and wind in its own power plants as well as develops energy and infrastructure projects for other developers.
At the start of the day's trading session, the stock opened at Rs 30.15 per share, compared to the previous day's closing figure of Rs 29.57 per share on the BSE. Finally, shares closed the day at Rs 31.04 per share. The stock has reached the upper circuit price limit of 5 per cent, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers. Energy Development Company Ltd.’s current market capitalization stands at Rs 147.44 crore, and the stock has generated an impressive return of over 80 per cent in the past 1 year.
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As per the Quarterly Results, in the fourth quarter of FY24, it recorded a revenue of Rs 3.94 crore. The operating loss for Q4 FY24 stood at Rs 0.99 crore. The net loss for Q4 FY24 was Rs 5.14 crore. Looking at the annual performance, the company generated a revenue of Rs 30.01 crore in FY24, compared to Rs 37.44 crore in FY23. The operating profit for FY24 was Rs 16.23 crore, with a net loss of Rs 2.17 crore.
Regarding the shareholding pattern, the promoters own 58.14 per cent of the company and the public or retail investors hold 41.66 per cent. FIIs increased their stake from 0.04 per cent to 0.19 per cent as per the recent update.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.