Trackpad

Late investor Rakesh Jhunjhunwala’s multibagger stock secures USD 33.5 million contract in Saudi Arabia 

VA TECH WABAG, a water technology leader, secured a USD 33.5 million contract to build a 20 million litre per day industrial wastewater treatment plant (IWWTP) at Saudi Aramco's Ras Tanura Refinery Complex. This project involves engineering, procurement, and supervision of the plant, designed to treat a mix of wastewater from various refinery sources. VA TECH WABAG will utilise a combination of biological, filtration, and reverse osmosis technologies to partially treat the wastewater for reuse within the refinery. The company will also employ wet air oxidation to handle specific waste streams. The project is expected to be completed in 20 months, this project solidifies VA TECH WABAG's foothold in the Saudi water treatment market and showcases its expertise in handling complex industrial wastewater while promoting sustainable water management solutions. In Q2FY24, the company posted an 11.38 per cent decrease in its consolidated revenue at ₹665, crore compared to ₹750.40 crore from the previous year’s corresponding quarter. The operating profit of the company stood at ₹101.50 crore, while the PAT of the company stood at ₹59.65 crore, from ₹44.20 crore last year's same quarter. The company has an order book of ₹12,000 crore and DIIs have increased their stake in the company. 

From ₹55 to ₹71.19 in just 7 days: Heavy buying witnessed in this recently listed fertiliser manufacturing penny stock 

Shares of Nova Agritech Ltd were locked in a 5 per cent upper circuit to ₹71.19 per share. The stock was listed on BSE at ₹55 per share and in 7 days the stock was up by 30 per cent to ₹71.19 per share. Nova Agritech is a leading agri-input manufacturer offering a wide range of products for soil health management, crop nutrition, crop protection, and more. They boast a diverse portfolio with over 600 registered products, a strong dealer network across 17 states, and a subsidiary specialising in crop protection, making them a comprehensive solution provider for farmers across India and Nepal. 

An investor who was lucky enough to get an allotment of this IPO saw their portfolio gain a staggering 73.64% since the initial allotment price of ₹41 per share. This translates to a profit of ₹11,019 per 365-share lot allocated. Nova Agritech Ltd.'s IPO attracted strong interest from a variety of investors, with retail investors subscribing 80.20 times, qualified institutions 81.13 times, and non-institutional buyers a significant 233.03 times. Notably, bids exceeding ₹10 lakh (bNII) were subscribed 231.40 times, while bids below ₹10 lakh (sNII) attracted even higher demand at 236.27 times. The offering included a fresh issue (funding plant expansion, working capital, subsidiary investment, and general purposes) and an offer for sale (no proceeds to the company). 
 

Multibagger solar energy stock commences power generation; hits 52-week high 
Oriana Power Ltd emerged as the standout performer, with an impressive surge, reaching over ₹803. The company specialises in providing solar energy solutions to industrial and commercial clients. In a recent development, Oriana's subsidiaries have initiated power generation for their RESCO projects, ensuring a consistent flow of monthly recurring revenue over the next 25 years. This achievement reflects their unwavering commitment to clean and renewable energy, contributing to a greener future with sustainable economic benefits. The subsidiaries, Oppl Spv Cg Private Limited (Wholly Owned Subsidiary) and Opwr Del Spv Private Limited (Wholly Owned Subsidiary), have successfully commissioned projects totalling 2.55MWp in the Solar Power Plant under the RESCO (Renewable Energy Service Company) segment of the company 

Oriana Power Ltd has demonstrated remarkable performance, delivering multibagger returns of 141.47 per cent in the last three months and an impressive surge of 66.5 per cent in the last month alone. 
 

Is this Hinduja Group stock ready for a Tata Motors-like move after its Q3 earnings? 

Turning attention to the earnings season, a noteworthy highlight is a positive surprise from Ashok Leyland Ltd., a flagship company of the Hinduja Group. In its financial results for Q3 FY2024, Ashok Leyland reported a revenue of ₹9,273 crore, reflecting a 2.7 per cent YoY increase. The net profit showed significant growth, reaching ₹580 crore, a substantial 60 per cent YoY rise. 

The reported EBITDA for Q3 FY24 stood at ₹1114 crore (12 per cent), compared to ₹797 crore (8.8 per cent) in Q3 FY23, indicating a double-digit percentage EBITDA in all three quarters of the fiscal year. The company achieved a historic high commercial vehicle volume of 1,38,416 units in the first nine months of the fiscal year. Despite global challenges, the export volume in Q3 FY24 saw a growth of 6.5 per cent, reaching 3128 units. Ashok Leyland also demonstrated prudent financial management, with debt at ₹1747 crore at the end of Q3 FY24 and a debt-equity ratio of 0.2 times, compared to 0.3 times in the previous quarter. Notably, the company invested ₹662 crore in the current quarter into Optare PLC/Switch, underscoring the strengthening prospects of electric light commercial vehicles (eLCVs) and electric buses. 

The company's strong product demand persisted in both the Medium and Heavy Commercial Vehicle (MHCV) and Light Commercial Vehicle (LCV) segments. It maintained its position as the leading bus manufacturer in the country, securing orders for over 3800 buses from State Transport Undertakings during the quarter. The growing bus market is anticipated to contribute significantly to overall industry volumes. At the recent Bharat Mobility Global Expo in New Delhi, Ashok Leyland marked a milestone by delivering its first Electric 55T Tractor-Trailer and its first 14T Boss Electric Truck. 

Ashish Kacholia makes a Grand Entry in this Small-Cap Multibagger Gem with 13,62,395 Shares 
In a noteworthy turn of events, the Board of Directors of Man Industries convened to deliberate upon and sanction the preferential allotment of 68,11,945 equity shares at ₹367 per share to 15 non-promoter investors. This eclectic group comprises individuals, partnership firms, alternative investment funds, and mutual funds, collectively contributing to a substantial infusion of approximately ₹250 crore into the company's coffers. The allotment, however, is contingent upon obtaining shareholder approval, a matter slated for discussion at the forthcoming Extraordinary General Meeting scheduled for February 29, 2024. Furthermore, it is noteworthy that Ace Investor Ashish Kacholia is poised to receive a maximum allotment of 13,62,395 equity shares. The current unexecuted order book stands at an impressive ₹1,300 crore, slated for completion within the next 5 months. Notably, Man Industries has recently set an industry benchmark through the successful testing of hydrogen transportation pipes, validated by a prestigious international testing agency. This achievement positions the company strategically to seize the first-mover advantage and secure a substantial order book in the future.
 

Azim Premji's fund sells 46,43,528 shares of multibagger fintech stock; company reports quarterly profit for the first time! 

The financial stage was set, and the spotlight was on as the Interim Budget 2024 took center stage. The next act, however, was a market extravaganza on February 2, with the Nifty 50 reaching for the stars, hitting an all-time high. Amidst the market commotion, one stock stood out in the limelight – PB Fintech Ltd, the parent company of Policy Bazaar. The recent past had witnessed this financial maverick soaring to a fresh 52-week high. Notably, the company had something more up its sleeve – it proudly reported its maiden quarterly profit of ₹37 crore for Q3FY24, a remarkable turnaround from the loss of ₹21.1 crore in the preceding September quarter and ₹87.6 crore in Q3FY23. The applause echoed in the financial corridors, celebrating a robust growth in insurance premium and improved contributing margins. 

However, the real plot twist came with a billionaire's cameo. Azim Premji, the magnate behind the curtains, showcased his private equity prowess through Premji Invest. Premji Invest, with the finesse of a maestro, orchestrated a divestment symphony, relinquishing a 1 per cent stake in PB Fintech for a staggering ₹457 crore. The drama unfolded through PI Opportunities Fund II, an affiliate of Premji Invest, which skillfully offloaded 46,43,528 shares on the BSE. As the curtains fell on the bulk deal, the data revealed a selling price of ₹985.07 per share, contributing to the grand transaction value. Post this blockbuster move, PI Opportunities Fund II now holds a diminished stake of 0.93 per cent in PB Fintech, down from the previous 1.93 per cent.