About Ashnisha Industries
Ashnisha Industries is engaged in the manufacturing and trading of steel and steel alloy products. The company had last year forayed into renewable energy. The company has a market capitalisation of Rs 113.02 crore as on January 14 2024.
Ashnisha Industries has been a multibagger penny stock in the past three years. The company which is mainly engaged in the manufacturing and trading of steel and steel alloy products, had last year forayed into renewable energy.
All power sector stocks, especially with a focus on renewable energy, have been a good momentum for a long, becoming one of the more sought-after stocks. As the rally in power stocks continues, several stocks have delivered multibagger returns, resulting in wealth gain for investors.
Ashnisha Industries shares have been a mega multibagger in the past two years with a fabulous return of 955 per cent.
ET Markets pointed out that in a three-year period, the counter has yielded a solid return of 3,509 per cent, resulting in wealth gain for investors. Accordingly, an investment of Rs 10,000 in equity shares of Ashnisha Industries three years ago would now have turned into more than Rs 3.5 lakh.
The company through an exchange filing on the BSE has informed that it will set up a solar plant in Surendranagar district of Gujarat. At the just concluded Gujarat Vibrant Summit, 2024, the company has signed a Memorandum of Understanding with the Gujarat government to set up the plant with a proposed investment of Rs 60 crore.
“Officials signed the MoU with the Commissioner of Municipalities Administration during the Vibrant Gujarat Global Summit 2024 in Gandhinagar,” a statement said.
Under the agreement, it said, the Gujarat government will provide necessary permissions, registrations, approvals, clearances in a time-bound process for green energy projects. The anticipated commencement year for the project is 2025, it added.
Download Pdf of research report on Ashnisha Industries multibagger: Not Available
Image uploaded by Shyam Sundar :
