Active Stocks
Fri May 24 2024 15:59:27
  1. Tata Steel share price
  2. 174.80 -0.37%
  1. NTPC share price
  2. 374.85 0.68%
  1. State Bank Of India share price
  2. 828.60 -0.45%
  1. ITC share price
  2. 436.10 -1.16%
  1. Power Grid Corporation Of India share price
  2. 318.50 -0.39%
Business News/ Markets / Stock Markets/  Multibagger stock: Insolation Energy share price jumps over 4,700% in 18 months; here's what analyst says
BackBack

Multibagger stock: Insolation Energy share price jumps over 4,700% in 18 months; here's what analyst says

Insolation Energy share price skyrocketed by 4,705.6% since debut, reaching ₹51.90 lakhs for early investors. The stock opened at ₹1,710 apiece and hit high of ₹1,743.85 with an intraday low of ₹1,593.

Insolation Energy's share price on BSE SME has surged by 4705.6% since debut, reaching a market capitalisation of ₹3,603.94 crore.Premium
Insolation Energy's share price on BSE SME has surged by 4705.6% since debut, reaching a market capitalisation of 3,603.94 crore.

Insolation Energy share price has soared 4,705.6% so far since its debut on the BSE SME on October 10, 2022. Over the period of about 18 months the investors who were allotted shares would have made around 51.90 lakhs as of today.  As of Monday's session, the market capitalisation stands at 3,603.94 crore as per BSE data. The Insolation Energy share price opened at 1,710 apiece, and the stock has touched an intraday high of 1,743.85 and an intraday low of 1,593 apiece.

Insolation Energy share price made a bumper debut on BSE SME in 2022, where the stock opened with a premium of 111.4% at 76.1 as against its issue price of 36. Insolation Energy Ltd share price ended the first day of trading up 121.9%. Insolation Energy IPO received an overwhelming response from its investors during its four-day subscription period. The overall subscription status on day 4 was 192.7x. 

Also Read: Stocks to buy: V-Guard, eClerx Services, Dhanuka Agritech, among five fundamental stock picks by HDFC Securities

As per trendlyne data, the stock price rose 1,070.88% and outperformed its sector by 950.85% in the past year.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Dr. Ravi Singh, SVP - Retail Research at Religare Broking Ltd explained that Insolation Energy is a solar panel and module manufacturer. The government initiatives towards green energy and new schemes like PM Surya Ghar Scheme has benefited in boosting the sales of the company. The recent earnings have also shown stable numbers. On technical setup, the stock is in uptrend and may touch the levels of 1,800 in near term.

The company experienced a significant revenue surge, doubling to 738 crore in FY24, with a consistent 20% compound annual growth rate (CAGR) over the past three years.

Also Read: Vijay Kedia portfolio: Multibagger stock Global Vectra hits lifetime high despite stock market crash today

In a recent exchange filing, the firm stated that its coordinated efforts and steadfast dedication have enabled it to reach a turnover of 738.80 crores in the solar energy sector, of which 104.57 crores are for the month of March 2024 alone.

The firm aims to double its consolidated revenue by FY 2025 as it enters the next phase of fast expansion. The firm expects to increase its capacity to manufacture solar panels to 3000 MW and aluminum frames to 6000 metric tons annually in FY 2025–2026.

Also Read: From 11 to 673.70: This penny stock jumped over 6,000% in three years

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

 

 

 

 

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 15 Apr 2024, 12:59 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started