Rs 9,000 crore capex over next 5 years: The Governor Of Gujarat’s portfolio gains Rs 113,49,92,250 from this multibagger power stock in just 1 day – scrip hit 52-week high!
The stock is up by 80 per cent in 1 year and gave multibagger returns of over 200 per cent in 3 years.
The benchmark indices were trading in green today with BSE Sensex Index up 0.71 per cent at 66,638 and NSE Nifty-50 Index up 0.70 per cent at 20,028. About 2,072 shares have advanced, 1,462 declined, and 147 are unchanged on the BSE.
Along with the market in green, this multibagger power company gained 160.65 points or 19.04 per cent to an intraday high of Rs 1,004.65 per share from its previous closing of Rs 843.85. The stock also made a 52-week high of Rs 1,004.5 per share with a spurt in volume by more than 6.2 times on BSE.
Before revealing the stock name, let us know how did Governor of Gujarat’s portfolio gained Rs 113,49,92,250 from this stock in just 1 day. Here are the details:
The Governor of Gujarat owns 70,65,000 shares or 1.47 per cent stake in the company.
Therefore, 70,65,000 shares x 160.65 per share = Rs 113,49,92,250 in just 1 day.
The company is a leading integrated power utility company in India with a presence across the generation, transmission and distribution of power. Its operations are spread across the states of Gujarat, Maharashtra, Uttar Pradesh and Karnataka.
Talking about the financials, the company is Mid-Cap with a market cap of over Rs 44,000 crore and has been maintaining a healthy dividend payout of 65.1 per cent. In its Quarterly Results, the company reported net sales of Rs 5,106.4 crore and net profit of Rs 491.9 crore in Q2FY24 and in its half-yearly results, the company reported net sales of Rs 14,288.5 crore and net profit of Rs 1,074.8 crore in H1FY24.
Additionally, the company has a turnover of Rs 25,694 crore (approx. USD 3 billion) and is the integrated power utility of the diversified Torrent Group with group revenues of Rs 37,600 crore (approx. USD 4.5 billion) and a market cap of Rs 1,00,000 crore (approx. USD 12 billion). The company has planned a capex of Rs 9,000 crore capex over next 5 years.
The stock name is TORRENT POWER LTD. The stock is up by 80 per cent in 1 year and gave multibagger returns of over 200 per cent in 3 years.
Do you own TORRENT POWER LTD.’s stock in your portfolio? Do let us know in the comments below
Disclaimer: The article is for informational purposes only and not investment advice.