Heavy buying: Back-to-back upper circuit in this multibagger penny stock; gains over 200 per cent!

Shares of the company gained more than 40 per cent in the last six months.

Shares of RattanIndia Power Limited were locked in the upper circuit on Wednesday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained about 40 per cent.

The company posted weak Quarterly Results in Q3FY24. The revenue of the company stood at Rs 806.38 crore which decreased by 5.1 per cent YoY. The operating profit of the company stood at Rs 253.57 crore. The company incurred a loss of Rs 586.97 crore due to a high-interest cost to the company which is at Rs 719.45 crore.

Shares of RattanIndia Power Limited have also delivered multibagger returns to their shareholders in the last one year. During this period, the company’s share price jumped from Rs 3.15 on May 09, 2023, to Rs 10.90 on May 08, 2024, an increase of about 230 per cent in the last one-year holding period.

RattanIndia Power Limited is one of India’s largest private power generation companies, with thermal power plants at Amravati and Nashik in Maharashtra. The power plants are spread over an area of 2,400 acres. The company counts marquee funds like Goldman Sachs and VardePartners, USA as investors in the business. The Group has created a world-class power generation asset with a deep focus on execution using best-in-class equipment and technology. 

The stock has shown tremendous growth and investors should keep a close eye on this stock.

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