From Rs 5 to 42 rupees this penny stock surged over 700 percent in 6 month check how varpat

New Delhi. The stock market is becoming a great way to earn money. Today we are talking about a penny stock, which has given multibagger returns to its shareholders in a very short time. We are talking about- Rattanindia Enterprises stock. The stock of Rattanindia Enterprises is continuously moving upwards, due to which its investors are getting good returns.

In the financial year 2021-22 (FY22) itself, the stock has climbed more than 700 percent so far. From trading at ₹5.1 on March 31, 2021, to ₹42.8 at present, it had risen by 739 per cent in the period. In comparison, the benchmark index Nifty FY22 YTD has gained about 24 per cent.

An investment of ₹1 lakh in the stock on March 31, 2021 would have become ₹8.39 lakh today. The stock has also gained 590 per cent in the last one year and 529 per cent so far in the calendar year 2021. The stock hit its 52-week high of ₹70.65 on July 27, 2021.

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Know what is the business of the company?
Formerly known as RatanIndia Infrastructure, the firm is engaged in setting up projects for thermal power generation. It has also recently forayed into the electric vehicles and drone business. The stock has outperformed its peers in FY22 so far. JSW Energy was the biggest gainer among other competitors with a growth of over 320 per cent in FY22. Meanwhile, Adani Transmission grew 97 per cent, NTPC 39 per cent and PowerGrid 20 per cent. There was a profit of 8 lakhs.

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Also active in electric vehicle sector
According to the shareholding data for the June 2021 quarter, the four promoters held 74.8 per cent stake or 103 crore shares. While the remaining 25.2 percent stake or 34.80 crore shares of the company were with the public. Let us tell you that this firm is also involved in the electric vehicle sector through Revolt Motors.