This stock soared from Rs 97 to Rs 564 in three years, hitting a record high this month.

Synopsis : Triveni Turbine: Declared Rs 1.30 interim dividend and Re 1 special dividend for 2023-24. Manufacturer of industrial steam turbines, serving 20+ industries across 75+ countries.

Multibagger alert: Triveni Turbine stock kicked off at Rs 564.20 on the BSE today, marking a notable uptrend. This power sector gem has seen a 32% surge this year and a remarkable 38.24% increase over the past year.

Triveni Turbine Ltd, a multibagger in the making, has surged over 450% in the past three years, delighting investors. From its May 12, 2021 closing price of Rs 97, the power equipment firm's shares have soared to an impressive Rs 564 in the current session on May 14, 2024, delivering remarkable returns of 473%. In contrast, the Sensex has seen a 49.57% increase over the same period. Notably, Triveni Turbine stock closed at Rs 555.20 in the previous session.

The stock commenced trading today on the BSE at a higher value of Rs 564.20. This power sector asset has seen a 32% increase in value this year and a 38.24% rise over the past year.

On Tuesday, a total of 0.13 lakh shares were traded, totaling a turnover of Rs 70.02 lakh. The firm's market capitalization is currently at Rs 17,624 crore. Its stock reached a 52-week low of Rs 311.85 on October 26, 2023, and a 52-week high of Rs 596.65 on May 3, 2024.

With a beta of 0.7, Triveni Turbine shares exhibit very low volatility over a year.

In terms of technical indicators, the relative strength index (RSI) stands at 54.6, indicating the stock is neither overbought nor oversold. Triveni Turbine shares are trading above their 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day moving averages, but below the 5-day and 10-day averages.

In the quarter ending March 2024, seven promoters collectively held a 55.84% stake in the company, while 91,413 public shareholders owned 44.16% or 14.03 crore shares. Among these shareholders, 88,095 resident individuals held 1.13 crore shares, constituting a 3.58% stake with capital up to Rs 2 lakh.

The company has not yet disclosed its earnings for Q4 and the fiscal year 2024.

In the preceding fiscal's December quarter, Triveni Turbine reported a 30% increase in net profit to Rs 68 crore compared to Rs 52.60 crore in December 2022.

Total income for Q3 of the previous fiscal increased to Rs 448.92 crore from Rs 337.70 crore the previous year. Expenses also rose to Rs 354.06 crore in the December 2023 quarter from Rs 267.66 crore in the same quarter of the previous fiscal year.

The company's board has announced an interim dividend of Rs 1.30 per fully paid-up equity share with a face value of Re 1 each. Additionally, it has declared a special dividend of Re 1 per fully paid-up equity share for the fiscal year 2023-24.

About the Company:

Triveni Turbine Limited specializes in manufacturing industrial steam turbines. Its primary focus is on manufacturing and supplying power generating equipment and solutions. The company operates manufacturing facilities in Bengaluru, Karnataka. With approximately 6,000 steam turbines supplied, it serves over 20 industries in more than 75 countries, spanning Europe, Africa, Central and Latin America, as well as Southeast Asian and South Asian Association for Regional Cooperation countries.

Disclaimer: We provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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