Multibagger Stock: A jump was seen in the shares of leading solar energy production company Insolation Energy Ltd on Friday. During this period, its shares had risen by more than 5 percent to reach the intra-day level of Rs 4,289. This rise in shares has come after a big deal of the company. Power production company signed MoU for a big deal worth Rs 10,000 crore in Rajasthan.
If we look at the data of the last five years of the company’s shares, during this period this stock gave an excellent return of more than 4300 percent to the investors, while its price increased from Rs 97 to the current level. In this way it has given a bumper return of 43 times. At the same time, this year i.e. in 2024, this share has given the highest return of 440 percent in any one year.
Know what is the big deal of Insolation Energy?
The power production company has informed the stock market that its wholly owned subsidiary Insolation Green Energy Private Limited has signed an MoU worth Rs 10,000 crore for solar energy production, component manufacturing, EPC projects and solar parks in Rajasthan. This agreement has been made under the Rising Rajasthan Global Investment Summit 2024 and will be applicable till the year 2030.
Performance of company shares
52-week low: Rs 595.15 (November 30, 2023)
52-week high: Rs 4750 (November 8, 2024)
Total gain in stock in 2024: 438 percent
Returns in one year: 539 percent
According to technical indicators, the relative strength index (RSI) of this stock is 53.5, which shows that the stock is neither in overbought nor oversold condition. The company’s shares are trading above the 5-day, 20-day, 30-day, 50-day, 100-day and 200-day moving averages.
Know about Insolation Energy Limited
Insolation Energy is mainly active in the business of solar panel production under the brand name INA. Its market cap is Rs 8,792.98 crore. This multibagger stock has performed tremendously in the past years and in the coming times, projects related to solar energy can give it further strength. However, investors should consult their financial advisor before reaching any decision.
Disclaimer: The information provided here is being given for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. ABPLive.com never advises anyone to invest any money.
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