Heavy buying: Back-to-back upper circuit in this multibagger solar stock; gains more than 480 per cent!

Shares of the company gained more than 60 per cent in the last six months.

Shares of Websol Energy System Limited were locked in the upper circuit on Tuesday, 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. The stock has gained more than 60 per cent in the last six months.

In the recent quarter, Q1FY25, the net sales of the company increased by 61,900 per cent at Rs 111.60 crore for Q1FY25 as compared to Rs 0.18 crore for the corresponding quarter previous year, making a significant turnaround in the company. The company reported a net profit at Rs 22.88 crore for the quarter ended June 30, 2024, as compared to a loss of Rs 0.69 crore for the same quarter in the previous year.

Shares of Websol Energy System 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 108.55 on August 07, 2023, to Rs 668.10 on August 06, 2024, an increase of more than 480 per cent in a one-year holding period.

Websol Energy System Limited is engaged in the business of manufacturing photovoltaic crystalline solar cells and related modules in India. The company specializes in the production of photovoltaic crystalline solar cells and related PV modules. The company’s products are used in both commercial and industrial Solar Energy panels in India and internationally. The company’s manufacturing facility is located in Falta SEZ, WB with a capacity of 240 MW of cells and a fully automated module line with a capacity of 250 MW.

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.