This small-cap stock hit ~5% upper circuit after a bulk deal. The stock has delivered 41% returns in one year. Both the 50-day and 200-day moving averages of the stock are currently trading above them.
In the stock market, a bulk transaction is one in which the total number of shares purchased or sold exceeds 0.5% of the company’s share capital.
RattanIndia Power Ltd
RattanIndia Power Ltd the company belongs to a small-cap category with a market capitalisation of Rs. 3,732 Cr. On Thursday the company shares hit 4.51% upper circuit at Rs. 6.95 and it is 2.8% below the 52-week high.
According to the NSE bulk deal data, ABARC-AST-002-Trust sold 5 Cr shares which is 0.9% equity at Rs. 6.65 and Retailers & small players bought the stake. On 29th September the company will be going to conduct its Sixteenth Annual General Meeting.
As per the company filing, the total consolidated revenue increased by 1.5% YoY from Rs. 922.16 Cr in Q1 FY23 to Rs. 935.98 Cr in Q1 FY24 and the company reported a net loss of Rs. 549.36 Cr against a loss of Rs. 389.30 Cr in Q1 FY24.
According to the latest shareholding information, Promoters hold 44.06%, DIIs hold 7.20%, FIIs hold 0.31% and the Public hold a 48.03% stake in the company.
RattanIndia Power Ltd. is engaged in Power generation and distribution. Power generation, distribution, trading, transmission, and other auxiliary and incidental activities are all dealt with by the corporation.
Written by Sheshadri N
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