Gita Renewable Energy – 37 Lakh Made Of 1 Lakh Rupees In A Year! This Stock Made Investors Rich – In the stock exchange , many penny ie very low value stocks are doing quite lot. One such stock is Gita Renewable Energy, which has given a return of about 3600 percent to its investors during a year. The success of this stock is basically astonishing.
Gita Renewable Energy – 37 Lakh Made Of 1 Lakh Rupees In A Year! This Stock Made Investors Rich
The stock of Geeta Renewable Energy closed at Rs 5.50 on the Bombay stock market on 29 June 2020. a few year later, on 29 July 2021, it reached Rs 194.15. Not only this, the stock reached Rs 203.85 on Friday, July 30 and had to place an upper circuit of 5 percent.
In this way, this share has given a return of about 3600 percent during a year, that is, if someone would have invested Rs 1 lakh during this share on 29 June 2020, then today the worth of his shares would became about Rs 37 lakh. as compared , the Sensex has risen only about 38.37% within the last one year.
Not only this, if we glance at the start of this year i.e. from January to July 29, the stock of Geeta Renewable Energy has gained 2,797.76%. The stock has climbed 154.29% in only one month. On this 29 July i.e. Thursday, it reached Rs 194.15 and this stock had to place an upper circuit of 5 percent on BSE.
At the top of the June quarter, the promoters’ stake during this stock was 73.05% and therefore the public’s was 26.95%. That is, only about 4,191 common shareholders had 11.08 lakh shares of this company. Of these, 3,947 held shares up to Rs 2 lakh. there have been only three shareholders who had shares worth quite Rs 2 lakh.
The shares of this Tamil Nadu company have performed tremendously within the last one year. If compared with its other rivals, Ravindra Energy’s share has increased by 121.47%, GVK Power & Infra’s share has increased by 27.11% and Urja Global’s share has increased by 162.13% in one year.
Surprising rally: the increase of this stock is additionally surprising because it doesn’t match with its results. Geeta Renewable Energy is engaged within the generation of electricity from renewable energy sources like wind, solar and hydro. This company was formed within the year 2010 at Gumidupoondi, Tamil Nadu. This company is continuously in loss since the quarter of September 2017, it’s made a profit of Rs 15 lakh only within the quarter of March 2021. within the last five years, the income of this company has declined by 63 percent.
Be careful: Investing in penny stocks is extremely risky, so most experts recommend avoiding them. Our advice is additionally that you simply should take care with penny stocks as they carry high volatility risk. Promoters have more holding in such shares, so there’s a better chance of manipulation in them. If you would like to take a position money in such a stock, then you ought to roll in the hay only after consulting an honest investment adviser .