Multibagger in just 1 year and promoters sold 219 shares: This micro-cap company has awarded an order of 122 KWP solar power plant to Tata Power Ltd

The stock gave multibagger returns of 140 per cent in just 1 year and a whopping 500 per cent in 3 years.

Today, shares of Kaycee Industries Ltd surged 2.85 per cent to an intraday high of Rs 16,995 per share from its previous closing of Rs 16,523.35. The stock is 22 per cent down from its 52-week high is Rs 21,820 per share while it gave multibagger returns of 171 per cent from its 52-week low of Rs 6,275 per share.

Kaycee Industries Ltd has recently taken a decisive step towards reducing our carbon footprint and contributing to the fight against global warming by initiating the installation of a rooftop solar power plant at our factory premises located at Plot No24, 26 and 27/19 Near CNG Gas Pump, Wimco Naka Ambernath(W) Thane 421501.

The company have awarded the purchase order to Gomumbai Solar LLP, a channel partner of Tata Power Company Ltd, for the installation of a rooftop solar power plant with a capacity of 122 KWP. This initiative is aligned with our dedication to supporting our nation's objectives in generating green energy and combating climate change.

The installation of this solar power plant is expected to have a substantial positive impact on the environment. Here are some of the anticipated benefits:

• Carbon dioxide offset: 2,480.44 metric tons
• Equivalent number of trees planted: 41,048 trees
• Petrol consumption avoided: 1,057,944.61 litres
• Equivalent kilometers driven: 9,753,357.78 km
• Equivalent acres of forest saved: 2,911.97 acres/year

Founded in 1942, Kaycee Industries Ltd, a subsidiary of Salzer Electronics Ltd, manufactures and supplies industrial electrical switches, mechanical counters, hour meters, cable lugs, and various other electrical components to diverse sectors like power, telecom, and renewables. Their product range includes rotary switches, toggle switches, stroke counters, digital time totalizers, and more, with a manufacturing capacity of 500 tons per month. They boast a prestigious clientele including the Airport Authority of India, Indian Oil, Airtel, and ABB.

The company has a market cap of over Rs 100 crore with a 3-year stock price CAGR of 81 pe cent. In December 2023, the promoters of the company sold 219 shares to 73.51 per cent compared to 73.86 per cent in September 2023. The stock gave multibagger returns of 140 per cent in just 1 year and a whopping 500 per cent in 3 years.

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

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