Orient Green Power Share Price: A Hidden Gem in the Renewable Energy Sector
🔥 The demand for electricity is expected to rise in the coming years due to significant changes in the country’s infrastructure. Many brokerage firms believe that investing in renewable energy companies could yield better returns.
🏢 While Tata Power and Suzlon Energy are the big names that investors usually consider when it comes to the renewable energy sector, there is a small company making waves in the industry. That company is Orient Green Power.
💰 Orient Green Power recently announced plans to raise ₹300 crores through a rights issue, an increase from the initially planned ₹225 crores. The share price is currently trading at ₹22.05, down by 1.34%.
📈 Since January 2023, the share price has witnessed an impressive growth of approximately 121.01%. Over the past three years, the stock has surged by more than 1000%.
💼 LIC, one of the major insurance companies in India, has invested in Orient Green Power. According to Trendline, LIC holds a 1.6% stake in the company, which accounts for 1,54,59,306 shares.
💡 Orient Green Power is a small-cap company with a market capitalization of ₹2,192 crores. As of September, promoters hold a 32.48% stake, while non-institutional investors hold a 63.96% stake. The remaining 3.56% is held by insurance companies, DII, and FII.
💰 The company’s recent financial results for the September quarter have been promising. The net profit doubled to ₹75 crores, compared to ₹33.80 crores in the same quarter last year. The total revenue also increased to ₹124.10 crores, up from ₹108.24 crores in the previous fiscal quarter.
🌱 With its impressive growth potential and positive financial performance, Orient Green Power is proving to be a hidden gem in the renewable energy sector. Investors should keep an eye on this company as it continues to make strides in the industry.
👉 Stay tuned for more updates on Orient Green Power and its share price performance.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
