Multibagger Stocks: Rathi Steel Soars 7%, Delivers 900% Return in One Year | Stock Market News

Shares of Rathi Steel And Power Ltd, a multibagger stock, have significantly increased in 2024. With a market cap of ₹480 crore, the small-cap stock still shows potential for further growth. Today, Rathi Steel And Power shares opened at ₹53.13 each on the BSE, reaching an intraday high of ₹57.04 during Monday’s trading.

Recent News

Rathi Steel And Power recently made headlines when it informed the Indian stock market exchange about receiving ₹4.71 crore from the Uttar Pradesh government as a refund for their electricity duty exemption claim. The company announced, “Our steel melting unit in Ghaziabad has been declared a Pioneer Unit under the ‘The Industrial and Service Sector Investment Policy 2004’ of the Government of Uttar Pradesh. As a result, we have received ₹4,71,47,847.12 from the government as a refund against our claim of Electricity Duty Exemption.”

Share Price History

In the past month, this multibagger stock has risen by about 8 percent. Over the last six months, the stock increased from around ₹38 to ₹57 per share on the BSE, a nearly 50 percent gain. Since the beginning of the year, this small-cap stock has surged from ₹31.19 to ₹57 per share, an almost 80 percent rise. Over the past year, the stock has soared from ₹5.61 to ₹57 per share, marking a remarkable 900 percent increase.