Multibagger penny stock under Rs 10: Company to enter into solar energy and solar plant business
DSIJ Intelligence-1 / 28 Aug 2025/ Categories: Multibaggers, Penny Stocks, Trending
The stock is up over 60 per cent from its 52-week low of Rs 3.36 per share and gave multibagger returns of 1,485 per cent in 5 years.
IEL Limited's Board of Directors has approved a major strategic shift for the company, proposing to expand its business activities beyond its traditional chemical and trading sectors. Subject to the final approval of shareholders, the company intends to amend its Memorandum of Association to officially enter the solar energy and solar plant business. This decision, made at a board meeting on August 26, 2025, reflects a move to diversify into the rapidly growing renewable energy sector.
The proposed changes to the company's main object clause are extensive, granting it the authority to engage in a wide range of energy-related activities. These include the generation, production, distribution and sale of power from various sources such as solar, wind, hydro and thermal energy. The company will also be able to set up power plants, including solar parks and buy, sell and deal in the necessary machinery and equipment. This new business direction positions IEL Limited to capitalise on opportunities in India's energy market and signals a long-term commitment to sustainability and diversification.
About IEL Ltd
IEL Limited, a BSE-listed company with a legacy in manufacturing, has successfully transitioned into a prominent player in the chemical and commodity trading sector. Founded in 1956, IEL initially operated a solvent extraction plant but later shifted its focus to trading, leveraging its expertise to offer a range of services, including marketing and warehousing.
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On Thursday, shares of IEL Ltd surged 4 per cent to an intraday high of Rs 5.40 per share from its previous closing of Rs 5.01 per share. The stock’s 52-week high is Rs 7.10 per share and its 52-week low is Rs 3.36 per share. The company has a market cap of Rs 68 crore. The stock is up over 60 per cent from its 52-week low of Rs 3.36 per share and gave multibagger returns of 1,485 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.