{"id":113070,"date":"2023-11-02T17:32:10","date_gmt":"2023-11-02T12:02:10","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=113070"},"modified":"2023-11-02T17:32:19","modified_gmt":"2023-11-02T12:02:19","slug":"maharatna-stock-surged-7-after-announcing-highest-ever-quarterly-profit-of-3789-cr","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/maharatna-stock-surged-7-after-announcing-highest-ever-quarterly-profit-of-3789-cr\/","title":{"rendered":"Maharatna stock surged 7% after announcing highest ever quarterly profit of \u20b9 3,789 Cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2312143618\"><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>The shares of Maharatna company moved 7 percent after announcing the highest ever quarterly profit during the September 2023 quarter. In the past six months, the company\u2019s stock has delivered multibagger returns of 121 percent to its stakeholders.\u00a0<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2211020799\"><!-- 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>With a market capitalization of Rs. 74,480 crores, the shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/RECLTD\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">REC Ltd<\/a><\/strong> opened its Thursday trading session on a positive note at Rs. 287. The stock hit 52 week high at Rs. 307 making a gain of around 7 percent during the day and closed its trading session at Rs. 302 apiece.&nbsp;<\/p><p>Such a bullish movement in the share was observed after the company announced its highest quarter profit. The revenue increased by 5 percent from Rs. 11,087 crores during the June quarter to Rs. 11,688 crores during the September quarter. In addition to this, net profits moved by 28 percent from Rs. 2,968 crores to Rs. 3,789 crores keeping the timeframe the same.&nbsp;<\/p><p>Comparing these metrics on a YoY basis, the revenue increased by 17 percent from Rs. 9,955 crores during Q2 FY23 to Rs. 11,087 crores in Q2 FY24. Furthermore, the net profit magnified by 39 percent from Rs. 2,732 crores to Rs. 3,789 crores during the same period.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2648604726\"><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>Moreover, REC Ltd announced an interim dividend of Rs 3.50 per equity share, i.e., a 35 percent payout over the Face Value of Rs 10 per equity share. The Record Date for the dividend is decided to be 13th November 2023.&nbsp;<\/p><p>Coming on to the important financial ratios, the return on equity was 20.62 percent during FY22-23, and the return on capital employed was recorded at 9.14 percent in the same period. The company has a decent dividend yield of approximately 4.50 percent.&nbsp;<\/p><p>According to the latest shareholding pattern, Promoters or the Government of India have a 52.63 percent stake in the company, FIIs have a considerable stake of 20.36 percent, DIIs have 14.14 percent shares and the remaining 12.87 percent is with Retail Investors.&nbsp;<\/p><p>A subsidiary company of Power Finance Corporation Ltd which, in turn, is under the ownership of the Ministry of Power, the government of India. The PSU provides long-term loans and other finance to the power sector. It has also diversified into areas like roads, metro rails, and airports.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written By Vaibhav Patil<\/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-2233384722\"><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>The shares of Maharatna company moved 7 percent after announcing the highest ever quarterly profit during the September 2023 quarter. In the past six months, the company\u2019s stock has delivered multibagger returns of 121 percent to its stakeholders.\u00a0 With a market capitalization of Rs. 74,480 crores, the shares of REC Ltd opened its Thursday trading [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":12638,"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":[13963,8525,948,936],"class_list":["post-113070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-rec-q2-results-fy24","tag-rec-share-price","tag-stock-market","tag-stock-market-news"],"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>Maharatna stock surged 7% after announcing highest ever quarterly profit of \u20b9 3,789 Cr - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The shares of the NBFC company moved 7 percent after announcing the highest ever quarterly profit during the September 2023 quarter. 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