Stock of RattanIndia Enterprises has delivered 881% returns to its shareholders in nearly eight months. The penny stock, which stood at Rs 4.48 (52-week low) on April 6, 2021, rose to a high of Rs 43.95 on the BSE today. An amount of Rs 1 lakh invested in RattanIndia Enterprises stock eight months ago would have turned into Rs 9.81 lakh today. In comparison, Sensex has risen 16.85% during the period.
However, RattanIndia Enterprises stock hit lower circuit of 5% at Rs 43.95 today. Market cap of the firm stood at Rs 6,075 crore on BSE. The mid cap stock has lost 9.66% in the last 2 days.
The stock opened with a loss of 4% at Rs 44.40 today against the previous close of Rs 46.25.on BSE. Total 6.12 lakh shares of the firm changed hands amounting to a turnover of Rs 2.70 crore on BSE.
The share trades higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages. The stock has gained 686.23% in one year and risen 551.11% since the beginning of this year. RattanIndia Enterprises shares hit 52-week high of Rs 70.65 on July 27, 2021 on BSE
For the quarter ended September 2021, four promoters held 74.80% stake or 103.39 crore shares and 1.38 lakh public shareholders owned 25.20% stake or 34.82 crore shares of the company.
1.36 lakh public shareholders held individual share capital of up to Rs 2 lakh and owned 12.07 crore shares or 8.74% stake at the end of September quarter.
209 shareholders owned individual share capital above Rs 2 lakh in the last quarter. 12 foreign portfolio investors held 8.92% stake or 12.33 crore shares in the firm.
However, the financial performance is not in line with the stellar rise in stock of the firm. It logged a loss of Rs 4.48 crore in the September quarter against net profit of Rs 0.05 crore in the September 2020 quarter.
The firm reported sales of Rs 1 crore in Q1 of the current fiscal against zero sales in the corresponding quarter of the previous fiscal.
It logged a loss of Rs 0.83 crore in Q1 against net profit of Rs 0.08 crore in June 2020 quarter.
The firm has clocked zero sales from quarter ended September 2018 till December 2020 quarter of the last fiscal. However, the company has outclassed its peers in terms of market returns in the last eight months.
While Adani Transmission share has gained 70%, share of NTPC has risen 19% in eight months. Share of another peer PowerGrid Corp has climbed 26.75% during the period.
JSW Energy stock has clocked the highest, 239.81% rise in the last eight months.
Recently, RattanIndia Enterprises started its drone business with its wholly owned subsidiary- NeoSky India Limited. Also, the company has made a strategic investment in the US-based urban drone logistics platform- Matternet.
Rattanindia Enterprises Ltd, formerly RattanIndia Infrastructure Limited is engaged in involved setting up of its power project in India for generation of thermal power. The company is seeking consultancy options in generation, transmission, and distribution of power.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today