{"id":112756,"date":"2023-10-27T17:47:37","date_gmt":"2023-10-27T12:17:37","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=112756"},"modified":"2023-10-27T17:47:42","modified_gmt":"2023-10-27T12:17:42","slug":"small-cap-stock-jumps-13-6-after-paying-231-cr-to-acquire-reliance-group-company","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/small-cap-stock-jumps-13-6-after-paying-231-cr-to-acquire-reliance-group-company\/","title":{"rendered":"Small cap stock jumps 13.6% after paying \u20b9 231 Cr to acquire Reliance Group company"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1526186862\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of this smallcap energy company gained 13.63 percent today after the company, through its special purpose vehicle Hazel Infra, paid \u20b9231 crore on Friday to acquire Reliance Naval and Engineering. The company has a market capitalization of Rs. 8,684.19 crores.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2644285643\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>On 27th October, shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/SWANENERGY\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Swan Energy Ltd<\/a><\/strong> closed at Rs. 373.90 per share, up by 13.63 percent from previous closing price of Rs. 329.05 per share.\u00a0<\/p><p>Such bullish stock price movements were observed after the company announced they have completed payment of Rs. 231.42 crores through a Special Purpose Vehicle, namely Hazel Infra Limited (HIL), to acquire Reliance Navel and Engineering. Earlier Swan Energy Ltd partnered with Hazel Mercantile Ltd to acquire Reliance Navel and Engineering.&nbsp;<\/p><p>This payment of 231.42 crores completes the upfront payment obligation as laid down in the Resolution Plan approved by the Honorable NCLT. Next hearing of the National Company Law Tribunal in this case is scheduled for November 22. The company is set to initiate the process of name change.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1789401043\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Looking at the financial statements of the company, revenue increased by 208.89 percent to Rs. 804.3 crores in Q1FY24 from Rs. 260.38 crores in Q1FY23, in the same time period net profit went from -Rs. 26.36 crores to Rs. 144.82 crores.&nbsp;<\/p><p>Swan Energy Limited is a diversified company which is engaged in the business of textile, real estate, and energy businesses in India and internationally. The company operates in Textiles, Energy, Construction, Distribution &amp; Development, and Warehousing businesses.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by: Vinit Israni&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-958448495\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of this smallcap energy company gained 13.63 percent today after the company, through its special purpose vehicle Hazel Infra, paid \u20b9231 crore on Friday to acquire Reliance Naval and Engineering. The company has a market capitalization of Rs. 8,684.19 crores.&nbsp; On 27th October, shares of Swan Energy Ltd closed at Rs. 373.90 per share, [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":97870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[948,936,12420,7512,13742,12421],"class_list":["post-112756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-stock-market","tag-stock-market-news","tag-swan-energy-latest-news","tag-swan-energy-share-price","tag-swan-energy-to-acquire-reliance","tag-why-is-swan-energy-share-going-up"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Small cap stock jumps 13.6% after paying \u20b9 231 Cr to acquire Reliance Group company - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Shares of this smallcap energy company gained 13.63 percent today after the company, through its special purpose vehicle Hazel Infra, paid \u20b9231 crore on Friday to acquire Reliance Naval and Engineering. 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