This multibagger stock has soared over 700% in 5 years
What's the story
Rathi Steel and Power's stock has increased significantly in value, closing at ₹30.55 on the Bombay Stock Exchange (BSE) this Friday. That's a 3.59% increase over the previous trading session, and nearly 6% gain over the last five days. Notably, the stock has given multibagger returns of over 700% in the last five years. However, it has declined over 44.55% in a year. The company said its promoter, PCR Holdings (formerly Archit Securities), has purchased an additional stake in it.
Stake increase
PCR Holdings increases stake
PCR Holdings has raised its stake by 0.21%, buying 45,000 equity shares worth ₹85.06 lakh from the open market. The company revealed this in an exchange filing dated March 22. As of December 2024, promoters held a hefty 40.32% stake in the company, while Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) owned 8.94% and 2.53%, respectively. The rest is with the public.
Stock analysis
Rathi Steel and Power's stock performance
Despite this, the company reported significant increase in net profit for the September quarter of FY25 driven by lower expenses, although total income declined and net profit for Q3 FY25 was lower compared to the previous year. The company runs a two lakh-ton steel plant in Uttar Pradesh, contributing to its strong market performance.