Multibagger Alert: Renewable energy stock receives Rs 145 Letter of Intent – Get ready to strike gold!

Shares of the company jumped 5% in early trade. 

About the LOI 

Taylormade Renewables has received a Letter of Intent (LoI) dated April 19, 2023, for a work order for TRL RAIN Technology Plants worth Rs 145 crore from HWM Enviro. The work order is for setting up common effluent treatment facilities for the treatment of hazardous concentrated streams from various Industries in (Gujarat Industrial Development Corporation) GIDCs of Chhatral, Tarapur and Panoli in Gujarat. After the completion of these three facilities in the first phase other such facilities will be expanded to all the GIDCs of Gujarat and other states of India.

Share price moment today 

Taylormade Renewables is currently trading at Rs 295.35, up by 14.05 points or 4.99% from its previous closing of Rs 281.30 on the BSE. 

The scrip opened at Rs 295.35 and touched a high and low of Rs 295.35 and Rs 295.35 respectively. So far 8,000 shares were traded on the counter. The BSE group 'A' stock of face value of Rs 10 has touched a 52-week high of Rs 295.35 and a 52-week low of Rs 8.75. The current market cap of the company is Rs 290.18 crore. 

The promoters holding in the company stood at 63.02%, while 36.98% is held by the public. 

Company profile 

Taylormade Renewables company is primarily engaged in providing renewable energy solutions. Their specialization is in manufacturing solar parabolic concentrating systems for steam generation used in steam cooking and other industrial application, director in-direct heating, including solar air-conditioning, solar space heating, solar drying, solar waste-water evaporation and many more applications requiring thermal energy. They are also the manufacturer of solar dish cooker, solar box cooker, solar dryers, biomass cook stoves and biomass gasfiers, air source heat pumps, solar thermic fluid cooking system, and evacuated tube collectors with and without CPC reflectors. 

Stock price performance: 

Over the last one year, the stock has delivered mind-boggling multibagger returns of over 2100%, leaving many investors in awe. On a YTD basis, the stock has jumped an impressive 672.16%, and in just the last three months, it has soared over 500%. 

To put it simply, the stock has provided fairytale-like returns to its shareholders, leaving many wondering how it managed to achieve such astounding growth despite the volatile market.