Shares of this multibagger semiconductor stock hit the 10 percent upper circuit in Tuesday’s trading session after the company secured a domestic supply order from Indian Railways worth more than Rs 200 crores. In the past six months, the company’s stock gained nearly 75 percent for its stakeholders.
With a market capitalization of Rs 1,057.32 crores, the stocks of Hind Rectifiers Limited started their trading session on Tuesday at Rs 613.95 and currently are locked in its 10 percent upper circuit registered at a price of Rs 617.45 apiece.
Such bullish stock price movements today were observed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), intimated about the receipt of a domestic supply order from Indian Railways worth more than Rs 200 crores. The period for executing the abovementioned order is decided to be FY24-25.
During the recent financial quarters, the company’s basic business indicators, viz, operating revenues and after-tax profits, showed movements in opposing directions on a standalone basis. The former, on one end, moved up from Rs 131 crores during Q2FY24 to Rs 136 crores during Q3FY24, and the latter, keeping the timeframe the same, fell from Rs 3 crores to Rs 1 crore.
According to the latest shareholding pattern data for the December 2023 quarter, the company’s Promoters hold a 44.08 percent stake, and the Public (retail) Investors hold a 50.18 percent stake in the company.
Keeping a purview of one year, the company’s stock delivered multibagger returns of around 226 percent to its shareholders, i.e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 3.26 lakhs.
Founded in 1958, Hind Rectifiers Limited is engaged in the business of developing, designing, manufacturing, and marketing power electronic equipment, power semiconductors, and railway transportation equipment. The company’s product portfolio includes high voltage, power diodes, transformers, converters, rectifiers, and many more.
Written by Amit Madnani
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