Multibagger Stock: The company to develop a 16.50 MW wind-solar hybrid power project, Clean Max Enviro Energy Solutions Private Ltd, and Clean Max Indus Private Ltd
Since listing stock has generated multibagger returns of 38,015.74 per cent.
On Thursday, shares of Aarti Industries Ltd jumped by 2.5 per cent to Rs 412 as the company has announced a strategic development concerning its renewable energy initiatives. The company has entered into a Shareholders Agreement with Clean Max Enviro Energy Solutions Private Limited and Clean Max Indus Private Limited, a Special Purpose Vehicle (SPV) set up to develop a 16.50 MW wind-solar hybrid power project.
This project aims to meet the power requirements of Aarti Industries. As part of this agreement, Aarti Industries will infuse capital amounting to Rs. 16.70 crore into Clean Max Indus Private Limited. The capital infusion is expected to occur within 30 days, although mutual consent may adjust this timeline.
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Aarti Industries Limited is currently trading at Rs. 412, with a market capitalisation of Rs. 14,921 crore. Over the past year, the stock has experienced a decline, providing a return of -42.27%. The company's stock price has ranged from a 52-week high of Rs. 769.5 to a low of Rs. 364.3. Despite the recent downturn, Aarti Industries maintains a PE ratio of 40.8, reflecting its earnings relative to its share price. The company's strategic investments in renewable energy projects indicate a commitment to sustainable growth, although the stock has faced challenges over the past year.
About Company
Aarti Industries Ltd, the Aarti group's flagship company, manufactures organic and inorganic chemicals at its major facilities in Vapi, Jhagadia, Dahej and Kutch, in Gujarat and in Tarapur in Maharashtra. The company has a strong market position in the NCB-based specialty chemicals segment. Since listing stock has generated multibagger returns of 38,015.74 per cent.
Investors should keep an eye on this Mid-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.