Stock under Rs 100: Money doubled in 6 months - check share name
stock under rs 100 rathi steel and power money doubled in 6 months – check share name
Stock Under Rs 100: The metal space is buzzing, so the stocks. Shares of BSE-listed microcap company Rathi Steel and Power is one of top gainers from the metal sector. It has not just doubled investors money in a very short span of time but also beaten the largecap peers in terms of returns.
Rathi Steel and Power, which commands a market cap of Rs 519.99 cror, is engaged in the manufacturing of iron and steel products.
The company has informed through an exchange filing that it has commenced implementing Cost Optimisation Project. It said that the project involves synchronising the steel casting and rolling process.
“Once implemented and stabilised, the project is expected to result in net savings of fuel and yield. It will also enhance sustainability by reducing Carbon Foot Print,” the company said in a statement, adding that it is targeting to commence trial runs of from the next month.
Meanwhile, Rathi Steel and Power shares today fell 2 per cent to quote at Rs 61.33 apiece on BSE.
Rathi Steel Share Price History
Going by BSE analytics as on April 30, Rathi Steel shares have climbed 32 per cent in the last 3 months. On YTD basis, the stock has zoomed a whopping 96 per cent. The microcap stock has yielded a multibagger return of 100 per cent in the last 6 months.
Earlier in February, the company had entered into settlement agreement with ACRE Limited (ARC) in respect of loan originally availed from Dena Bank (now Bank of Baroda), which was subsequently assigned to ACRE. On the reasons for opting for settlement, the company had said, “Due to continuous losses in the past as a result of various external factors, the debt had grown to unsustainable levels. Thus, it was imperative to enter into debt resolution/settlement.”
As per the shareholding pattern of Rathi Steel, promoters own 40.32 per cent stake, followed by non-institutional investors (47.33 per cent), FIIs (8.95 per cent), DIIs (2.59 per cent) and mutual funds (0.81 per cent).
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