FIIs and promoters have increased their stake in this penny stock. Do you have it?
Many investors always look for ideas to invest in low priced stocks it is irrespective of market conditions. For example in the current market situation when the price of almost every stock is up, there is a dearth of stocks that are trading below Rs 10 and there is a better trigger for the company.
SE Power is one such company that is headquartered in Vadodara (Gujarat). The company was formed to engage in the business of producing, manufacturing, generating and supplying all forms of power and energy. The share price of this company has increased by more than 20 per cent in the last one month. Nevertheless, in the last year, it is up by almost 365 per cent. Even year till date it is up by more than 190 per cent.
For the quarter ending June 2021, Promoters and FIIs both have increased their stake in the company. Promoters increased their stake from 30.74 per cent at the end of March 2021 to 35.6 per cent at the end of the June 2021 quarter. FIIs in the same period have increased their stake by 4.99 per cent to 12.21 per cent at the end of the quarter ending June 2021.
The company is both BSE and NSE listed. A word of caution for those who may be tempted to take exposure to such counter is, such stocks are mostly illiquid. This means they are traded in very little quantity, and hence few orders can lead to hitting the circuit limit on the exchange. When the market is going good they can give you exceptional returns, however, once the market becomes nervous or not in a bullish tone, you may have a problem in offloading them.