Solar stock Ravindra Energy has been witnessing a stormy rise for the last few days. The solar company’s shares reached an upper circuit of 5 percent at Rs 104.55 on Thursday. Ravindra Energy’s shares are on the upper circuit for the sixth consecutive day. At the same time, the company’s shares have risen by more than 27 percent in the last one week. Veteran investors Ashish Kacholia and Mukul Agarwal have placed a big bet on Ravindra Energy. Both these veterans have bought lakhs of shares of the company.
Big investors bought so many shares of the company
Solar company Ravindra Energy has announced that its board has approved raising Rs 179.99 crore on a preferential basis. The company has approved the issue of 2.43 crore equity shares. According to BSE filings, the allottee list shows that 15,54,054 shares have been offered to Ashish Kacholia and the value of this transaction is around Rs 12 crore. At the same time, veteran investor Mukul Agarwal has been offered 21,62,162 shares. He has invested around Rs 16 crore in the company. Ravindra Energy is in the business of selling solar pumps. Also, the company is setting up a solar generation power plant.
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Shares up 63% in 3 months
The shares of Ravindra Energy have jumped 27.60 percent in the last one week. At the same time, the shares of the solar company have climbed about 63 percent in the last 3 months. The company’s shares were at Rs 64.47 on June 11, 2024. The company’s shares have reached Rs 104.55 on September 12, 2024. So far this year, the shares of Ravindra Energy have seen a rise of more than 68 percent. The company’s shares were at Rs 62.05 on January 1 at the beginning of this year, which have now crossed Rs 104. The 52-week high level of Ravindra Energy shares is Rs 129.70. While the 52-week low level of the company’s shares is Rs 51.66.
The IPO came at Rs 55, the company’s shares crossed Rs 250 in just 9 months
