Multibagger Penny Stock: From Rs 5 to Rs 42, this stock increased by over 700% in FY22
Multibagger Penny Stock: The stock of Rattanindia Enterprises is continuously going upwards, due to which its investors are getting good returns. In the financial year 2021-22 (FY22) itself, the stock has climbed more than 700 percent so far. From trading at ₹5.1 on March 31, 2021, to ₹42.8 at present, it has grown by 739 percent in this period. In comparison, the benchmark index Nifty has gained nearly 24 per cent in FY22 YTD. An investment of ₹1 lakh in the stock on March 31, 2021 would have become ₹8.39 lakh today.
The stock has also gained 590 per cent in the last one year and 529 per cent so far in the calendar year 2021. The stock touched its 52-week high of ₹70.65 on July 27, 2021 and its 52-week low of ₹4.48 on April 6, 2021. Earlier known as RatanIndia Infrastructure, the firm is engaged in setting up projects for thermal power generation. It has also recently forayed into the electrical vehicle and drone business.
The stock has outperformed its rivals in FY22 so far. JSW Energy grew over 320 percent in FY22. Adani Transmission rose 97 per cent, NTPC 39 per cent and PowerGrid 20 per cent during this period. However, earnings are not in line with the firm’s stock performance. The firm reported a net profit of ₹23 lakh in the June quarter, as against a profit of ₹8 lakh in the year-ago period, despite an increase in sales. Sales in Q1 came in at ₹1 crore as against zero in the year-ago quarter. The firm has seen zero sales from the June 2020 quarter to the December 2020 quarter of the previous financial year.
According to the shareholding data for the June 2021 quarter, the four promoters held 74.8 per cent stake or 103 crore shares while the remaining 25.2 per cent stake or 34.80 crore shares of the company was held by the public.
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