{"id":99035,"date":"2023-04-03T18:45:00","date_gmt":"2023-04-03T13:15:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=99035"},"modified":"2023-04-03T18:35:25","modified_gmt":"2023-04-03T13:05:25","slug":"penny-stock-hits-5-upper-circuit-after-announcing-rights-issue-check-the-details","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/penny-stock-hits-5-upper-circuit-after-announcing-rights-issue-check-the-details\/","title":{"rendered":"Penny stock hits 5% upper circuit after announcing rights issue; Check the details"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1606746725\"><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>Indowind Energy Ltd stock opened its trading hour today at Rs 9.60 and thereafter was locked in the 5 percent upper circuit at a price of Rs 9.65. The market capitalization of the company is 121 crores including it in the penny stock list.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4114158116\"><!-- 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>In a recent filing with the exchange, the company, after a couple of adjourned meetings, announced that the Board considered and approved the rights issue and alloted 1,75,93,294 Equity Shares at a price of Rs 12 per Equity Share (including a premium of Rs 2 per Equity Share).&nbsp;<\/p><p>Apart from the above, a scheme of Amalgamation between Indowind Energy Ltd and Ind Eco Ventures Limited (an unlisted wholly owned subsidiary of the company), was proposed with a rationale of savings of operational costs and access to new markets, customers, and channels.&nbsp;<\/p><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/INDOWIND\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Indowind Energy Ltd<\/a><\/strong> is an independent power producer generating green power through dedicated wind farms and also offers allied services in the wind energy sector. It offers services to various stakeholders in the power industry such as green power sales, project management services, asset management services, and value-added services. The company generates a majority of its revenue from the sale of power.\u00a0<\/p><div class=\"trade-content_5\" id=\"trade-269446864\"><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>Having a walkthrough of the financials, it is observed that the revenues as well as the net profits of the company have decreased in the recent quarters. Revenues reduced from Rs 14.6 crores in Q2 to Rs 7.1 crores in Q3. Net profits, showing similarity, showed a downward shift from Rs 3..92 crores in Q2 to Rs 0.06 crores in Q3.&nbsp;<\/p><p>On a YoY basis, the ROE and ROCE figures of the company have shown a reduction with ROE moving down from 0.12 percent in FY20-21 to 0.06 percent in FY21-22. ROCE went down from 0.8 percent in FY20-21 to 0.71 percent in FY21-22.&nbsp;<\/p><p>Something positive to note is the reduction in the debt to equity ratio from 0.27 in FY20-21 to 0.25 in FY21-22.&nbsp;<\/p><p>Investments in penny stocks involve certain risks. Please consult an investment advisor before investing.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Amit Madnani<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/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-3609221554\"><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>Indowind Energy Ltd stock opened its trading hour today at Rs 9.60 and thereafter was locked in the 5 percent upper circuit at a price of Rs 9.65. The market capitalization of the company is 121 crores including it in the penny stock list.&nbsp; In a recent filing with the exchange, the company, after a [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":28546,"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":[6112,6985,6113,1246,8085,8088,8089,8087,8086,8091,8093,8092,5214,5213,948,936,3153,3157,2597,8090],"class_list":["post-99035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-energy-stock","tag-energy-stock-to-buy","tag-energy-stock-to-buy-now","tag-green-energy-stocks-india","tag-indowind-energy","tag-indowind-energy-business","tag-indowind-energy-hits-5-upper-circuit","tag-indowind-energy-latest-news","tag-indowind-energy-share-price","tag-small-cap-stock-energy-stock","tag-small-cap-stock-energy-stock-to-buy","tag-small-cap-stock-energy-stock-to-watch","tag-small-cap-stock-to-buy","tag-small-cap-stock-to-watch","tag-stock-market","tag-stock-market-news","tag-stock-to-buy","tag-stock-to-watch","tag-stocks-to-watch","tag-why-did-indowind-energy-go-up-today"],"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>Penny stock hits 5% upper circuit after announcing rights issue; Check the details - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The stock opened its trading hour today at Rs 9.60 and thereafter was locked in the 5 percent upper circuit at a price of Rs 9.65. 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