- This penny stock has generated robust returns for investors in FY22 till now, rising from ₹5 to ₹42 in this time. Did you miss the rally?
Rattanindia Enterprises stock has been on a continuous uptrend, generating robust returns for its investors. Just in the financial year 2021-22 (FY22), the stock has surged over 700 percent till now.
From trading at ₹5.1 on March 31, 2021, to ₹42.8 currently, it had soared as much as 739 percent in this period. In comparison, benchmark index Nifty has advanced nearly 24 percent in FY22 YTD.
An investment of ₹1 lakh in the stock on March 31, 2021, would have turned to ₹8.39 lakh today.
The stock has also risen 590 percent in the last one year and 529 percent in the calendar year 2021 till date. The stock hit its 52-week high of ₹70.65 on July 27, 2021, and its 52 week low of ₹4.48 on April 6, 2021.
Formerly known as RattanIndia Infrastructure, the firm is engaged in setting of projects for thermal power generation. It has also recently forayed into the electrical vehicles and drone business.
The stock has outperformed its peers in FY22 till now. JSW Energy gained the most among other peers, rising over 320 percent in FY22. Meanwhile, Adani Transmission rose 97 percent in this period, NTPC added 39 percent and PowerGrid rose 20 percent in this time.
However, the earnings is not in line with the stock performance of the firm. 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 a rise in sales. Sales in Q1 came in at ₹1 crore as against nil in the year-ago quarter.
The firm has clocked zero sales from the June 2020 quarter till the December 2020 quarter of the last fiscal.
As per the shareholding data in June 2021 quarter, four promoters held 74.8 percent stake or 103 crore shares while the remaining 25.2 percent stake or 34.80 crore shares of the company were held by the public.
Recently, the firm forayed into the drone business with its wholly-owned subsidiary- NeoSky India Limited. It will focus on developing drone system platforms and other industrial applications of drones. It also made a strategic investment in a US-based urban drone logistics platform. As per the firm, Drone systems will prove to be extremely transformative by providing cost-effective solutions for developing countries like India, it said.
The firm is also involved in the electric vehicle space through Revolt Motors.
Download the App to get 14 days of unlimited access to Mint Premium absolutely free!
Log in to our website to save your bookmarks. It’ll just take a moment.
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
Your session has expired, please login again.
You are now subscribed to our newsletters. In case you can’t find any email from our side, please check the spam folder.
This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp