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Mint
10 hours ago
- Business
- Mint
6200% returns in one year! Multibagger stock hits upper circuit; here's why
Elitecon International share price hit the upper circuit for the third straight session on Wednesday. Elitecon International shares were locked at 5% upper circuit limit of ₹ 69.67 apiece on the BSE. The gains in Elitecon International share price today comes after the company announced the board meeting date for fundraising. The Board of Directors of Elitecon International at its meeting held on Tuesday, July 01, 2025, decided to defer the consideration and approval of raising funds to the next Board meeting which is scheduled to be held on Friday, July 04, 2025. The company's board of directors on July 4 will discuss and evaluate the proposal for raising funds up to an amount of ₹ 75 crores by way of preferential allotment, issue of convertible warrants, Foreign Currency Convertible Bonds (FCCBs), Qualified Institutional Placement (QIP) or any other permissible instruments, subject to necessary approvals from Shareholders, regulatory bodies and other stakeholders. In a separate regulatory filing, Elitecon International said that the Statutory Auditors Report on the Annual Audited Financial Results (Standalone & Consolidated) of the Company for the financial year ended March 31, 2025 do not contain any qualifications, reservations or adverse remarks. 'The Statutory Auditors of the Company have issued unmodified opinion/unqualified opinion on the Annual Audited Standalone Financial Results (Standalone & Consolidated) of the Company for the financial year ended March 31, 2025,' Elitecon International said in a stock exchange filing. Elitecon International share price has rallied 48% in one month, and more than 106% in three months. The stock has jumped 572% on a year-to-date (YTD) basis, and has delivered multibagger returns of 6,200% in one year. At 10:40 AM, Elitecon International share price was still locked at 5% upper circuit of ₹ 69.67 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
a day ago
- Business
- Economic Times
IREDA shares rise 3% after Q1 update: Disbursements rise 31%, loan book nears Rs 80,000 crore
Shares of state-run Indian Renewable Energy Development Agency (IREDA) climbed as much as 2.7% on Tuesday to Rs 174.65 on the BSE after the company released its business update for the April–June quarter on Monday, June 30. ADVERTISEMENT Loans sanctioned during the quarter rose 29% year-on-year to Rs 11,740 crore, compared to Rs 9,136 crore in the same period last year. Loan disbursements also increased by 31% to Rs 6,981 crore, up from Rs 5,326 crore in the year-ago quarter. As a result, IREDA's loan book outstanding stood at Rs 79,960 crore as of June 30, 2025, marking a 27% increase from the previous year. It had reported an outstanding loan book of Rs 76,250 crore at the end of the March quarter. The company has also made headlines recently for initiating insolvency proceedings against Gensol Engineering and its subsidiaries. In June, the Ahmedabad bench of the National Company Law Tribunal (NCLT) admitted a corporate insolvency resolution petition filed by Gensol Engineering against its subsidiary Gensol EV Lease Ltd. over a default of Rs 218.95 crore. During the quarter, IREDA raised Rs 2,000 crore through a Qualified Institutional Placement (QIP), selling shares to LIC, Societe Generale, Morgan Stanley, and Vikasa India EIF I Fund. Following the QIP, the government's stake in the company stands at 71.76%. Also Read: Top 10 Nifty500 stocks with dividend yields higher than industry average ADVERTISEMENT According to Trendlyne, the average target price for IREDA is Rs 173, indicating a potential upside of around 2% from current levels. Of the two analysts tracking the stock, the consensus rating is 'Buy'.IREDA shares closed 0.35% higher at Rs 170.1 on the BSE in the previous session. While the stock has gained 6% over the past three months, it is down 23% so far this year. Also Read: Street Favourite! 10 Nifty micro-cap stocks analysts expect to rally up to 60% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
a day ago
- Business
- Time of India
IREDA shares in focus after Q1 update: Disbursements rise 31%, loan book nears Rs 80,000 crore
IREDA shares: Loans sanctioned during the quarter saw a 29% year-on-year increase, reaching Rs 11,740 crore, up from Rs 9,136 crore in the same period last year. Similarly, loan disbursements rose by 31% to Rs 6,981 crore, compared to Rs 5,326 crore in the corresponding quarter a year ago. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads IREDA share price target and performance Shares of state-run Indian Renewable Energy Development Agency IREDA ) will be in focus on Tuesday after the company released its business update for the April–June quarter on Monday, June sanctioned during the quarter rose 29% year-on-year to Rs 11,740 crore, compared to Rs 9,136 crore in the same period last year. Loan disbursements also increased by 31% to Rs 6,981 crore, up from Rs 5,326 crore in the year-ago a result, IREDA's loan book outstanding stood at Rs 79,960 crore as of June 30, 2025, marking a 27% increase from the previous year. It had reported an outstanding loan book of Rs 76,250 crore at the end of the March company has also made headlines recently for initiating insolvency proceedings against Gensol Engineering and its subsidiaries. In June, the Ahmedabad bench of the National Company Law Tribunal (NCLT) admitted a corporate insolvency resolution petition filed by Gensol Engineering against its subsidiary Gensol EV Lease Ltd. over a default of Rs 218.95 the quarter, IREDA raised Rs 2,000 crore through a Qualified Institutional Placement (QIP), selling shares to LIC , Societe Generale, Morgan Stanley, and Vikasa India EIF I Fund. Following the QIP, the government's stake in the company stands at 71.76%.According to Trendlyne, the average target price for IREDA is Rs 173, indicating a potential upside of around 2% from current levels. Of the two analysts tracking the stock, the consensus rating is 'Buy'. IREDA shares closed 0.35% higher at Rs 170.1 on the BSE in the previous session. While the stock has gained 6% over the past three months, it is down 23% so far this year.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
2 days ago
- Business
- Time of India
CG Power shares in focus as company plans to raise Rs 3,000 crore via QIP
CG Power and Industrial Solutions shares will be in focus on Tuesday after the company announced plans to raise around Rs 3,000 crore through a Qualified Institutional Placement (QIP), CNBC-TV18 reported on June 30. The QIP is expected to be priced at approximately Rs 660 per share, nearly 3.25% below Monday's closing price, according to sources. DAM Capital Advisors , IIFL Capital, and HSBC Securities are managing the issue. The fundraising move comes shortly after CG Power secured a Rs 641 crore order from Power Grid Corporation of India Ltd (PGCIL) for the supply and servicing of a 765kV Transformer Package (7TR-12 Bulk). This marks the largest single order in the company's history. The order is expected to be fulfilled over 18 to 36 months, the company said in a stock exchange filing. CG Power, a part of the Murugappa Group, reported consolidated revenues of Rs 9,909 crore in FY25 and continues to expand across industrial systems, power solutions, and consumer appliances. While details on the equity dilution or prospective institutional buyers are not yet disclosed, the QIP is expected to support the company's long-term growth and expansion plans. Also Read: Top 10 Nifty500 stocks with dividend yields higher than industry average CG Power Share Price Target According to Trendlyne, the average target price for CG Power stands at Rs 720, implying a potential upside of about 6% from current levels. Of the 12 analysts tracking the stock, the consensus rating is 'Buy'. From a technical standpoint, the Relative Strength Index (RSI) is at 51.9, indicating neutral momentum. The MACD is at 4.0—above its center line but below the signal line. Also Read: Street Favourite! 10 Nifty micro-cap stocks analysts expect to rally up to 60% ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
2 days ago
- Business
- Economic Times
CG Power shares in focus as company plans to raise Rs 3,000 crore via QIP
CG Power and Industrial Solutions shares will be in focus on Tuesday after the company announced plans to raise around Rs 3,000 crore through a Qualified Institutional Placement (QIP), CNBC-TV18 reported on June 30. The QIP is expected to be priced at approximately Rs 660 per share, nearly 3.25% below Monday's closing price, according to sources. ADVERTISEMENT DAM Capital Advisors, IIFL Capital, and HSBC Securities are managing the issue. The fundraising move comes shortly after CG Power secured a Rs 641 crore order from Power Grid Corporation of India Ltd (PGCIL) for the supply and servicing of a 765kV Transformer Package (7TR-12 Bulk). This marks the largest single order in the company's history. The order is expected to be fulfilled over 18 to 36 months, the company said in a stock exchange filing. CG Power, a part of the Murugappa Group, reported consolidated revenues of Rs 9,909 crore in FY25 and continues to expand across industrial systems, power solutions, and consumer details on the equity dilution or prospective institutional buyers are not yet disclosed, the QIP is expected to support the company's long-term growth and expansion plans. Also Read: Top 10 Nifty500 stocks with dividend yields higher than industry average ADVERTISEMENT According to Trendlyne, the average target price for CG Power stands at Rs 720, implying a potential upside of about 6% from current levels. Of the 12 analysts tracking the stock, the consensus rating is 'Buy'.From a technical standpoint, the Relative Strength Index (RSI) is at 51.9, indicating neutral momentum. The MACD is at 4.0—above its center line but below the signal line. ADVERTISEMENT Also Read: Street Favourite! 10 Nifty micro-cap stocks analysts expect to rally up to 60% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
