Knowledge Monk

Heavy buying: This multibagger penny stock has seen back-to-back upper circuits with profits exceeding 400%

RattanIndia Power Limited’s shares gained 5.00 percent on Friday and were trapped in the upper circuit. Investor buying activity in the stock has been very active during the past few days. As a result, the top circuit is locked with the stock. Over the past half-year, the stock has increased by over 110%.

In Q4FY24, the company reported flat quarterly results. The company’s revenue was Rs 913.96 crore, up 1.49 percent year over year. The company’s operational profit was Rs 287.80 crore. PAT for the company was Rs 10,665.75.97 crore because of extraordinary revenue in Q4FY24.

In the past year, shareholders have also received multibagger gains from RattanIndia Power Limited’s shares. The company’s share price increased by over 400% in the last year of ownership, from Rs 3.45 on June 01, 2023 to Rs 19.15 on May 31, 2024.

One of the biggest independent power producers in India, RattanIndia Power Limited operates thermal power facilities in Maharashtra’s Amravati and Nashik. The 2,400 acres that make up the power plants are distributed. Prominent investment firms including VardePartners, USA and Goldman Sachs are among the company’s backers. Using state-of-the-art machinery and technology, the Group has produced a world-class power generation asset with a strong emphasis on execution.

Investors should closely monitor this stock because of its impressive rise.

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