FIIs Bought 24,77,360 Shares: Multibagger Power Generation Stock in Focus as Board is Likely to Announce Stock Split
The stock gave multibagger returns of 140 per cent in just 1 year, 700 per cent returns in 3 years and a whopping 1,250 per cent in 5 years.
On Monday, shares of Nava Ltd plunged 0.04 per cent to Rs 936.50 per share from its previous closing of Rs 936.90 per share with an intraday high of Rs 959.25 per share and an intraday low of Rs 911 per share. The stock’s 52-week high is Rs 1,346.70 per share and its 52-week low is Rs 374.55 per share. The shares of the company saw a spurt in volume by more than 2.26 times on BSE.
Nava Limited informs that its Board of Directors will convene on Thursday, November 14, 2024, to review and approve the unaudited financial results (consolidated and standalone) for the second quarter and half-year ending September 30, 2024. Additionally, the Board will deliberate on a proposal to subdivide/split the existing equity shares with a face value of Rs 2 each, subject to shareholder approval through a postal ballot.
Nava Ltd, a multinational conglomerate, has its roots in India as a ferro-alloy manufacturer. It has diversified into various sectors, including power generation, mining, agribusiness, and healthcare. With significant operations in India, South East Asia, and Africa, the company has a substantial presence in the global market. Its power generation assets, including thermal power plants in India and a large-scale power plant in Zambia, contribute significantly to its revenue. Additionally, its mining operations, particularly the coal mining activities in Zambia, provide a strategic advantage. The company's recent foray into agribusiness, specifically avocado plantation in Zambia, showcases its commitment to sustainable growth and diversification.
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The company has a market cap of Rs 14,646 crore and has delivered good profit growth of 31.3 per cent CAGR over the last 5 years. The shares of the company have a PE of 14x, an ROE of 18 per cent and an ROCE of 16 per cent. In September 2024, FIIs bought 24,77,360 shares and increased their stake to 11.02 per cent compared to 9.32 per cent in June 2024. The stock gave multibagger returns of 140 per cent in just 1 year, 700 per cent returns in 3 years and a whopping 1,250 per cent in 5 years. Investors should keep an eye on this power stock.
Disclaimer: The article is for informational purposes only and not investment advice.