Multibagger Penny Stock Under Rs 30 In Green Company Commences Mega Hospitality Project In Jaipur, Rajasthan
The stock is up by 83.6 per cent from its 52-week low of Rs 15.47 per share and gave multibagger returns of 700 per cent in just 5 years.
Saboo Sodium Chloro Limited (SSCL) announces a significant expansion into the hospitality sector through its associate firm, Villashare Tech Private Limited (VSTL). VSTL has commenced development on a massive 5-star mega-resort in Jaipur, Rajasthan, spanning 11 bigha of land. This ambitious project, the largest of its kind in the city, is expected to redefine the hospitality landscape in Jaipur, a renowned tourism destination in India. With Mudit Asthana Architects spearheading the design and architecture, construction is slated to begin in early 2025 and conclude by mid-2027. A leading international hotel chain is being considered to manage the operations of the resort.
SSCL’s strategic investment in VSTL is anticipated to yield substantial benefits in terms of both revenue and profitability. As a 20 per cent shareholder, SSCL is poised to capitalize on the growth potential of this mega-resort project. The company plans to fund its contribution through internal accruals, aiming to maintain a debt-free development. While VSTL may explore external financing options at a later stage, the project is currently envisioned as self-funded. This venture aligns with SSCL’s vision of excellence in the hospitality industry and marks a significant milestone in the company’s growth trajectory.
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Incorporated in 1993, Saboo Sodium Chloro Ltd is engaged in the manufacturing and selling of salt and is also engaged in the hotel industry, FMCG, power generation and hospitality. The company has a market cap of Rs 119.2 crore with a 5-year stock price CAGR of 50 per cent.
On Tuesday, shares of Saboo Sodium Chloro gained 2.79 per cent to Rs 28.40 per share with an intraday high of Rs 28.72 and an intraday low of Rs 27. The stock’s 52-week high is Rs 34.72 and its 52-week low is Rs 15.47.
The stock is up by 83.6 per cent from its 52-week low of Rs 15.47 per share and gave multibagger returns of 700 per cent in just 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.