Shares of this multibagger Real Estate stock jumped up to 2 percent in Wednesday’s trading session after the company announced a strategic tie-up with a Government of India Enterprise for various solutions including AI, Waste Management, and others. In the last six months, the company’s stock rose nearly 40 percent for its holders.
With a market capitalization of Rs 17,736.96 crores, the stocks of Swan Energy Limited started their trading session on Wednesday at Rs 560.85 and closed the session at Rs 565.85. The company’s scrip witnessed an intra-day high price of Rs 572.50 exhibiting a jump of approximately 2 percent compared to the previous close of Rs 561.50 apiece.
Such bullish share price movements were observed today after the company, through a recent regulatory filing with the Bombay Stock Exchange (BSE), intimated about a strategic tie-up with “Telecommunications Consultants India Limited”, a Government of India Enterprise.
The tie-up pertains to the field of Artificial Intelligence (AI), Smart City (Waste Management), System Integration, GIS-based surveys, Mapping- Land, Property, Utilities, etc.
Earlier, Veritas India Limited, a subsidiary of Swan Energy Limited, had received a Letter of Acceptance (LoA) from the Brihanmumbai Municipal Corporation (BMC) in March 2024 in consortium with ‘Genesis International Corporation Limited’.
The LoA was received for the development, implementation, and maintenance of ‘3D City model’ and ‘Change Detection’ using Geospatial Technology.
During the recent financial quarters, the company’s prime business indicators, viz, its operating revenues as well as after-tax profits, witnessed a jump in numbers with the former increasing from Rs 1,223 crores during Q2FY24 to Rs 1,592 crores during Q3FY24, and the latter, during the same period, rising from Rs 166 crores to Rs 220 crores.
Keeping a purview of the last year, the company’s stock has proven to deliver multibagger returns of approximately 135 percent to its stakeholders, i.e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.35 lakhs.
Swan Energy Limited is an India-based company involved in various business segments including energy, textiles, realty, power generation, and others. Geographically, the company generates revenue from operations within the domestic as well as overseas markets, with the majority being generated from operations abroad.
Written by Amit Madnani
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