9,200 per cent Multibagger Return in Just 1 Year: Solar Stock Under Rs 200 Hits Upper Circuit; Promoter Holding Spiked from 0.01 per cent to 94.97 per cent in FY24

The shares of the company have delivered a return of over 8,000 per cent to its shareholders in just 6 months.

Today, this Small-Cap solar power generating company in India, engaged in the generation of solar power, manufacturing, sales, and services of solar power plants/projects, as well as the manufacturing and sales of electric vehicles, experienced a significant surge in its share price. 

At the start of the day's trading session, the stock opened at Rs 182.35 per share, compared to the previous day's closing figure of Rs 173.70 per share on the BSE. Today 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. Finally, it closed the day at Rs 182.35 per share. The current market capitalization of Ujaas Energy stands at Rs 1,920 crore, and the stock has generated an impressive multibagger return of around 9,251 per cent in just 1 year only.

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The promoter holding in the company has witnessed a remarkable increase from a mere 0.01 per cent to an overwhelming 94.97 per cent in the fourth quarter of FY24. This substantial surge underscores a profound shift in ownership dynamics, indicating a strong reaffirmation of commitment from the company's founders or major stakeholders.

As per the Quarterly Results, the company posted a revenue of Rs 6.84 crore while the net loss of the company stood at Rs 4.14 crore compared to a loss of Rs 2.90 crore. Looking at the annual performance, the company generated a revenue of Rs 27 crore in FY24, compared to Rs 31 crore in FY23. The profit for FY24 was Rs 29 crore, compared to a loss of Rs 17 crore.

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

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