Back-to-back upper circuits: This solar company generated returns of over 800 per cent in just one year!
It has gained about 342 per cent in the last six months while its shareholders enjoyed stellar returns of 139 per cent in just one month!
On an intraday basis on Monday, the shares of Solex Energy surged, achieving a 52-week high of Rs 441 per share on NSE after being locked in the 5 per cent upper circuit.
By hitting back-to-back upper circuits, the stock has skyrocketed more than 800 per cent in just one year, implying that an investment of Rs 1 lakh made in this stock a year ago would now be worth over Rs 9 lakh! It has gained about 342 per cent in the last six months while its shareholders enjoyed stellar returns of 139 per cent in just one month!
The market worth of the company is Rs 352 crore, with promoters owning more than 70 per cent of it. As ‘Sun Energy Systems’, Solex Energy was founded in 1995 and has been in the solar industry ever since. To begin with, it produced solar lighting systems and solar-powered boilers for regional small clients. In 2007, the business switched to producing solar panels. The company changed its name to ‘Solex Energy Limited’ in 2014 when it went from being a sole proprietorship to a private limited company. It then got listed on NSE in 2018 using NSE Emerge platform.
In addition to offering turnkey solar solutions in a variety of markets such as solar power plants, solar water pumps, and utility-scale ground-mounted solar power plants, Solex Energy is a market leader in the production of solar photovoltaic modules.
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