Rs 5 to Rs 194

Gita Renewable Energy

Rs. 5 to Rs. 194 

This Penny Stock turned into a multibagger in one year

A one-year investment of Rs 1 lakh in a microcap firm would have grown to Rs 35.30 lakh now.

Since the beginning of the year, Gita Renewable Energy's stock has risen 2,797.76 percent, with a gain of 154.29 percent in just one month.

Gita Renewable Energy's stock has returned 3,430 percent to its owners in a year. On the BSE today, the stock surged to an all-time high of Rs 194.15 after closing at Rs 5.50 on June 29, 2020. A one-lakh rupee investment in Gita Renewable Energy stock a year ago would now be worth Rs 35.30 lakh.

The Sensex, on the other hand, has only increased by 38.37 percent over the same time period.

Since the beginning of the year, Gita Renewable Energy's stock has risen 2,797.76 percent, with a gain of 154.29 percent in just one month.

On the BSE today, the stock was stuck in a 5% upper circuit. On the BSE, the stock was trading 5% higher at Rs 194.15 at 3:26 p.m., vs a previous close of Rs 184.95.

In the last 21 days, the microcap stock has increased by 154.29 percent. On the BSE, the stock opened with a 4.97 percent gain and closed at Rs 194.15, up 4.97 percent.

The 5 day, 20 day, 50 day, 100 day, and 200 day moving averages are all greater than Gita Renewable Energy's share price.

On the BSE, a total of 249 shares were traded, resulting in a turnover of Rs 0.48 lakh.

At the end of the June quarter, promoters owned 73.05 percent of the company, while public shareholders owned 26.95 percent.

Only 4,191 public owners owned 11.08 lakh shares of the company, indicating that it was lightly traded on stock exchanges in the previous quarter.

There were 3,947 shareholders, each with a stake of up to Rs 2 lakh. At the end of the June quarter, only three owners had capital in excess of Rs 2 lakh.

In the recent year, the Tamil Nadu-based company's stock has outperformed its peers.

While Ravindra Energy's stock has increased by 121.47 percent in a year, GVK Power and Infra's stock has only increased by 27.11 percent. In a year, Urja Global's stock has increased by 162.13%.

In a year, Orient Green Power Company's stock has increased by 63.77 percent.

The extraordinary climb in Gita Renewable's stock over the last year, however, should not be taken as a reason for inclusion in your portfolio because the surge is not in accordance with the company's earnings.

The company has been losing money since the third quarter of 2017, with the exception of the third quarter of 2021, when it made a profit of Rs 15 lakh.

In reality, the company's yearly earnings growth has been -63 percent during the last five years.

The company recorded a 131.91 percent increase in net profit in the March quarter of 2021, with a profit of Rs 15 lakh compared to a loss of Rs 47 lakh in the March quarter of 2020.

On a quarterly basis, net profit increased by 101 percent from a loss of Rs 12.97 lakh in the previous fiscal's December quarter.

Gita Renewable Energy generates electricity from renewable sources such as wind, sun, and hydro. The business was founded in 2010.

Source: businesstoday.in