Sanjiv Bhasin: Hidden multibagger stock from power sector; Share price Rs 9
sanjiv bhasin: hidden multibagger stock from power sector rattanindia power; share price rs 9
Hidden multibagger stock: Ace investor Sanjiv Bhasin is extremely bullish on a power sector stock. He sees more than 100 per cent potential upside from the current levels. The said stock has already delivered multibagger returns, rallying over 200 per cent, tripling investor’s money in just over an year.
The stock under discussion is RattanIndia Power Limited. The company is a constituent of S&P BSE SmallCap and enjoys a market cap of Rs 5,160.67 crore, as of the current market price.
As per the company’s official website, RattanIndia Power is one of India’s largest private power generation company, with installed capacity of 2,700 MW thermal power plants at Amravati and Nashik (1,350 MW at each location) in Maharashtra, India with investments of Rs 18,615 crores. The power plants are spread over an area of 2,400 acres. The company counts marquee funds like Goldman Sachs and VardePartners, USA as investors in the business.
Sanjiv Bhasin Recommendation: RattanIndia Power
“RattanIndia Power has 2700 MW thermal power, two plants in Amravati and Nashik. This stock is definitely getting out of NCLT. It has very very avid investors like Goldman Sachs and Varde Partners,” said Bhasin.
“I think once it is out of NCLT (National Company Law Tribunal), this stock is a doubler from here, if not more than that,” he added.
“My pick for this year would be RattanIndia Power. I think, from Rs 9, it can easily scale to Rs 20. The underlying business, once it comes out of NCLT, is up and running,” said the ace investor.
RattanIndia Power Share Price Today
Shares of RattanIndia Power on Thursday, May 2, opened at Rs 9.65 per share on NSE, which is the upper circuit and during the session so far, the smallcap stock touched an intraday low of Rs 8.75. It has a 52-week range of Rs 3.05 and Rs 12.30 on NSE.
Currently, the power sector stock is trading above its 20-day, 50-day, and 200-day exponential moving averages (EMAs), however, it is still below its 100-day EMA.
RattanIndia Power Share Price History
According to BSE Analytics, RattanIndia Power has appreciated by 9.70 per cent in the past week, 5.37 per cent in the past month, however, in the past three months, the stock has declined 10.27 per cent.
On an year-to-date (YTD) basis, the power sector stock has ascended by 4.34 per cent, and in the past six months, it climbed by 38.67 per cent.
Looking further back, over one year, two years, three years, and five years, the smallcap stock delivered 207 per cent, 87 per cent, 252 per cent, and 270 per cent, respectively.
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