Rathi Steel and Power Ltd has seen a remarkable surge in its stock price, giving its investors a whopping 998% multibagger return in just one year. From a 52-week low of Rs 5.10 to reaching Rs 55.98 per share, the company has shown impressive growth and resilience.
The Delhi-based steel manufacturer recently announced that its steel melting unit in Ghaziabad has been declared a Pioneer Unit by the Government of Uttar Pradesh. This recognition has allowed the company to receive a substantial refund against its claim for electricity duty exemption, further strengthening its financial position.
Established in 1971, Rathi Steel and Power Ltd is known for its quality Rebars and Wire Rods under the renowned “RATHI” brand. The company serves a wide range of clients, including prestigious names like the Airports Authority of India, Delhi Metro Rail, and NTPC. With a market cap of over Rs 470 crore, the company has shown consistent growth and innovation in the steel industry.
The quarterly results of the company have also been impressive, with a 17% increase in net sales and a staggering 2,457% rise in net profit in Q4FY24 compared to the previous quarter. The company’s strategic restructuring, debt repayment, and focus on high-margin stainless steel products have led to this turnaround and positioned it for future growth.
Investors and market watchers are advised to keep an eye on this micro-cap stock, as it continues to demonstrate strong performance and growth potential. Disclaimer: This news article serves as informational content and does not constitute investment advice.
