170 per cent returns in this low PE high ROE multibagger stock: Board announces bonus shares; scrip hits back-to-back 52-week highs!
The stock gave multibagger returns of 170 per cent in just 1 year whereas BSE Sensex Index is up by 12.3 per cent.
On Monday, shares of Power Finance Corporation Limited gained 2.88 per cent to an intraday high of Rs 313.90 per share from its previous closing of Rs 305.1. The stock also made a new 52-week high of Rs 306.75 per share. In the recent trading sessions, the stock is hitting back-to-back 52-week highs.
Power Finance Corporation Limited informed the company that the Board of Directors of the company have approved bonus shares in the ratio of 1:4 i.e., bonus issue of 1 equity share of Rs 10 each fully paid-up for every 4 existing equity shares of Rs 10 each fully paid-up as of record date. The company fixed the record date for the bonus issue of shares as Thursday, September 21, 2023.
Previously, Power Finance Corporation Limited executed various Memoranda of Understanding (MoU) of more than Rs 2.37 lakh crore with 20 companies both in the public and private sectors. These MoUs were signed with solar, wind power, green hydrogen, battery storage, electric vehicle companies as well as the manufacturers of green energy equipment among others in the clean energy space. Adani, Greenco, ReNew, Continuum, Avaada, JBM Auto, Megha Engineering & Infrastructure Limited, Rajasthan Renewable Energy, etc. were some of the companies with whom PFC signed the MoU.
According to the financials, PFCL has a market cap of over Rs 80,000 crore and a 3-year stock price CAGR of 50 per cent. The company’s maximum stake is owned by The President of India (55.99 per cent) as of March 2023. The company reported excellent numbers in its Quarterly Results and annual results.
The stock has a PE of 4.72x and a ROE of 21 per cent. The stock gave multibagger returns of 170 per cent in just 1 year whereas BSE Sensex Index is up by 12.3 per cent. Investors should keep an eye on this PSU stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.
Want more insightful stories along with recommendations?
Get a 3-month subscription to experience the power of our flagship DSIJ Magazine (online edition) for just Rs 699/- Click here to subscribe now
Related articles
-
FII bought 75,000 shares of this multibagger stock; Board is likely to announce bonus shares & stock split and company bags new orders worth Rs 16.23 crore from CMSS!
-
6,500 per cent multibagger returns & Promoters bought 20,686 shares: Board announces bonus shares; scrip hit upper circuit & 52-week high!
-
Multibagger in just 6 months: Board likely to announce bonus shares; scrip hit 52-week high on January 08
-
3,300 per cent returns in this multibagger stock, Board likely to announce bonus shares!
-
1200-per cent returns in this multibagger penny stock below Rs 100: Board announces bonus shares; hit back-to-back upper circuits & 52-week high!
-
795 per cent multibagger returns in this micro-cap stock; Board likely to announce bonus shares & stock split!
-
Multibagger in just six months: Board announces bonus issue for first time; scrip hit back-to-back upper circuits and 52-week highs!
-
Upper circuit & 52-week high alert in this multibagger micro-cap stock: Board announces bonus shares; scrip gains 125 per cent in just 6 months!
-
Multibagger in just 6 months: Board announced bonus shares after stellar Q2FY24 & H1FY24 results; hit back-to-back upper circuits and 52-week highs!
-
52-week high alert and FIIs & DIIs increase stake; Board likely to announce bonus shares!
-
240 per cent multibagger returns in just 6 months; Board likely to announce bonus shares!
-
3,300 per cent returns in this multibagger stock: Board announces bonus shares; scrip hits back-to-back upper circuits & 52-week highs!
-
Multibagger in just 1 year: Board announces bonus shares; scrip under Rs 100!
-
580 per cent returns in this multibagger stock; Board likely to announce bonus shares; scrip hits 52-week high!
-
6,300 per cent returns: This multibagger micro-cap stock is set to trade ex-bonus tomorrow; hits upper circuit & 52-week high!
-
1,400 per cent returns in this multibagger micro-cap stock; Board likely to announce bonus shares!
-
Multibagger from its 52-week low; Board likely to announce bonus shares!
-
Promoter Group was allocated 9,30,000 shares: 2:1 bonus share, 2:1 stock split with 4,000 per cent multibagger returns; scrip hit upper circuit on March 20
-
2:1 bonus share, 2:1 stock split with 4,500 per cent multibagger returns: Board approve USD 50,00,000 fund raising through issue of foreign currency-denominated bonds!
-
5:1 stock split after 57:10 bonus shares 10 years ago: Back-to-back upper circuits & 52-week highs in this multibagger power stock; rockets 50,000 per cent!