33 Per Cent From 52-Week Low: Multibagger Penny Stock Under Rs 50 Will Be In Focus Tomorrow; Here’s Why
The stock is up by 33 per cent from its 52-week low and has given multibagger returns of over 1,200 per cent in 5 years.
Rathi Steel and Power Limited has announced that the Bureau of Indian Standards (BIS), the national standards body of the Indian government, has granted approval under their existing license number 8700188222 for the inclusion of SS 550 and SS 500 Reinforcement Bars with an 8 mm diameter. This approval allows the company to use the BIS standard mark on these products, which fall under the title "High Strength Deformed Stainless Steel Bars and Wires for Concrete Reinforcement." This development is a significant step for Rathi Steel, as it expands the range of BIS-certified stainless steel reinforcement bars they can manufacture.
With this latest approval, Rathi Steel and Power Limited now possesses the authorisation to produce the complete spectrum of SS 550 and SS 500 Reinforcement Stainless Steel Bars, ranging from 8 mm to 32 mm in diameter. This expansion enables the company to optimally utilise its existing manufacturing and testing facilities to meet the increasing market demand for these high-strength products. The BIS license, which is valid until February 1, 2026, underscores the company's commitment to quality standards and its ability to cater to a broader range of construction requirements.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, download the service details here.
About the Company
Incorporated in 1971, Rathi Steel and Power Limited manufactures and supplies steel and steel-related products. The company specialises in stainless steel products like Wire Rods, flats etc., which are primarily used in infrastructure, engineering, and household applications. Rathi operates a plant in Ghaziabad, UP, with an installed capacity of 2,00,000 tons per annum or rolling capacity. The Company also operates a steel melting shop with an installed capacity of over 90,000 tons per annum to manufacture stainless steel billets.
According to Quarterly Results, the net sales increased by 3.2 per cent to Rs 104.43 crore and the net profit decreased by 32 per cent to Rs 0.79 crore in Q3FY25 compared to Q3FY24. In its nine-month results, the net sales decreased by 6 per cent to Rs 353.59 crore and the net profit increased by 199 per cent to Rs 10.16 crore in 9MFY25 compared to 9MFY24
The stock’s 52-week high is Rs 97.81 per share while its 52-week low is Rs 24.50 per share. The promoters of the company own a 41.30 per cent stake, FIIs own 8.63 per cent, DIIs own 2.49 per cent and the public owns a 47.58 per cent stake as of March 2025. The stock is up by 33 per cent from its 52-week low and has given multibagger returns of over 1,200 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.