Penny stock under ₹10: Up 100% in six months | IT stock hits 5% upper circuit in five straight sessions

Penny stock under ₹10: IT stock Empower India hit 5% upper circuit in the past five sessions straight. The stock has delivered multibagger returns of 100% in the last six months.

Empower India shares have delivered strong returns across most time frames. The stock has gained 24.46% in the past one week, while its one-month return stands at 3.62%. On a year-to-date basis, the stock has risen 32.37%, while it has surged 78.91% over the past one year.

Empower India stock's longer-term performance has been even more impressive. The shares have climbed 172.62% in three years, while the stock has delivered a massive 1,426.67% return over five years. Over the 10-year period, the shares have gained 420.45%.

Empower India recent business updates

In an exchange filing on 12 September, Empower India said that it has fixed 23 September as the record date to determine the eligibility of shareholders to vote and participate in its 44th annual general meeting (AGM), scheduled for 30 September in Mumbai.

“We hereby intimate the Record Date for determining the eligibility of members to participate and vote at the 44th Annual General Meeting (AGM) of the Company and the period of remote e-voting,” the company said in the filing.

On 9 September, the company informed the exchanges about the resignation of Naveenakumar Kunjaru from the position of Non-Executive Independent Director of the company with effect from 9 September, citing personal and family commitments.

“In accordance with the applicable provisions of the SEBI Listing Regulations, Mr. Naveenakumar Kunjaru has confirmed that there is no other material reason for his resignation other than those stated in the resignation letter,” the filing said.

Furthermore, the company announced its expansion into sustainable digital infrastructure solutions. The country’s accelerating adoption of artificial intelligence is expected to create rising demand for energy-efficient data centres, high-performance computing infrastructure, advanced cooling solutions and reliable power infrastructure, it said.

The company further said that the Government of India’s ₹10,371.92 crore IndiaAI Mission, launched in 2024, is playing a key role in accelerating the development of the country’s AI ecosystem through investments in computing capacity, data infrastructure and AI applications.

With more than 38,000 GPUs already onboarded and plans to add another 20,000 GPUs, India is witnessing a significant expansion of its AI computing infrastructure. This growing demand for computing power is likely to further support opportunities across the data-centre and digital infrastructure ecosystem.

“India’s AI infrastructure expansion presents a strong growth opportunity for sustainable digital infrastructure. We believe Empower India’s foray into this sector is well-positioned to benefit from the rising demand for energy-efficient, reliable, and scalable infrastructure,” said Rajesh Chavan, Managing Director of Empower India Limited.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.