Fresh Entry in Stock Below Rs 30: Ashish Kacholia Invests in Power Sector EPC Player, FIIs Stake Reaches Record High —Stock to Watch Out!
Stock has emerged as a multibagger stock, with its price surging by 149 per cent from its 52-week low.
The NSE benchmark Nifty50 index extended its decline for the sixth consecutive session on Monday, marking its worst six-day fall since March 2022. By the close of trading, the Nifty50 had shed 0.87 per cent, or 218.85 points, settling at 24,795.75.
Amidst this significant market downturn, one stock defied the trend and surged over 4 per cent—Jyoti Structures Ltd. The company is a leading EPC (Engineering, Procurement, and Construction) player in the power sector, specializing in creating infrastructure that enables the transmission of extra high-voltage electric power. Jyoti Structures has a strong reputation for delivering turnkey projects that involve the design, testing, manufacturing, erection, and commissioning of transmission lines, substations, and power distribution projects, both in India and internationally. Their towers and structures are instrumental in supporting power transmission grids, ensuring that electricity reaches millions of consumers—be it homes, offices, schools, agricultural farms, or industries.
The stock rally was fueled by the company’s latest shareholding pattern for the quarter ended September 2024, which revealed that prominent investor Ashish Kacholia holds a 2.52 per cent stake, translating to 22,036,118 shares. Additionally, foreign institutional investors (FIIs) now hold a record-high stake of 1.4 per cent, as per the September shareholding data. Notably, Jyoti Structures has emerged as a multibagger stock, with its price surging by 149 per cent from its 52-week low.
The power sector is poised to enter a Super Cycle due to a combination of factors:
- Long-pending, unmet demand is now being addressed.
- Rising power consumption across all sectors.
- Upgradation, expansion, and stabilization of electric grids.
- An exponential rise in renewable energy adoption.
- Global commitments to reduce carbon footprints.
- The synergistic growth of GDP and the Transmission & Distribution (T&D) sector.
- The Government of India’s projection of an outlay exceeding Rs 5 lakh crore for the T&D sector by 2030.
- Ongoing initiatives aimed at improving the financial stability of state electricity boards (SEBs) and distribution companies (Discoms). Given these favorable industry tailwinds, what’s your take—do you think this stock will breach the Rs 100 mark within the next year? Share your thoughts in the comments!
Disclaimer: The article is for informational purposes only and not investment advice.