{"id":120783,"date":"2024-03-14T13:08:10","date_gmt":"2024-03-14T07:38:10","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=120783"},"modified":"2024-03-14T15:07:10","modified_gmt":"2024-03-14T09:37:10","slug":"stock-jumps-over-4-after-it-incorporates-a-new-subsidiary-company","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-jumps-over-4-after-it-incorporates-a-new-subsidiary-company\/","title":{"rendered":"Stock jumps over 4% after it incorporates a new subsidiary company\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3693013954\"><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>Share price of this small-cap stock jumped by nearly 4.53% on NSE to Rs. 4,800 in the morning trading session of March 14th, from its previous close of Rs. 4,591.85, after the company announced incorporating a new wholly-owned subsidiary.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3953824266\"><!-- 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 capitalisation of Rs. 7,523.3 crores, at 11:47 a.m. the shares of Power Mech Projects Limited were trading in the green at Rs. 4,763.75, up by 3.74 percent.&nbsp;<\/p><p>In the last one year, the company has delivered about 112.09 percent of multibagger returns and nearly 12.7 percent of positive returns in the last six months. So far in 2024, it has delivered positive returns of over 5.8 percent.&nbsp;<\/p><p>According to recent regulatory filings with the stock exchanges, Power Mech Projects Limited incorporated a new wholly-owned subsidiary by the name PMTS Private Limited on Wednesday.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1985278672\"><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>The purpose of incorporation of this wholly-owned subsidiary is to design and develop technologies required for construction companies and companies in other sectors or industries, including the implementation of ERP and monitoring systems.&nbsp;<\/p><p>In terms of financials, the company\u2019s revenue from operations grew by 18.8% from Rs. 932 crores in Q2 FY23-24 to Rs. 1,108 crore in Q3 FY23-24.&nbsp;<\/p><p>The net profit also increased by 21.5% from Rs. 51 crore in Q2 FY23-24 to Rs. 62 crore in Q3 FY23-24.&nbsp;<\/p><p>As of December 2023, FIIs hold 4.24 percent of the shares, whereas DIIs hold 18.57 percent of the shares in the company, aggregating to 22.81 percent of the institutional holdings.&nbsp;<\/p><p>The FIIs increased their holding by 0.08 percent from 4.16 percent in Q2 FY23-24 to 4.24 percent in Q3 FY23-24, whereas, the Promoter\u2019s holding decreased by 3.65 percent from 64.05 percent to 60.4 percent during the same period.&nbsp;<\/p><p>Established in 1999, Power Mech Projects Limited is one of the leading infrastructure-construction companies and is engaged in the business of providing a wide range of services in the power and infrastructure sectors.&nbsp;<\/p><div class=\"trade-content-10\" id=\"trade-3303252069\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\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><strong>Written by Shivani Singh&nbsp;<\/strong><\/p><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><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-1311067896\"><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>Share price of this small-cap stock jumped by nearly 4.53% on NSE to Rs. 4,800 in the morning trading session of March 14th, from its previous close of Rs. 4,591.85, after the company announced incorporating a new wholly-owned subsidiary.&nbsp; With a market capitalisation of Rs. 7,523.3 crores, at 11:47 a.m. the shares of Power Mech [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":78680,"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":[31,13525],"tags":[],"class_list":["post-120783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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