Stock market today: Shares of Rathi Steel And Power Ltd are one of the miltibagger stocks that the Indian stock market has delivered in 2024. However, it seems that the small-cap stock with a market cap of ₹480 crore still possesses some upside steam. Rathi Steel And Power shares today opened with an upside gap at ₹53.13 apiece on the BSE and touched an intraday high of ₹57.04 per share during Monday deals.
Rathi Steel And Power news
The small-cap company hit the headlines when it reported to the Indian stock market exchange that it had received ₹4.71 crore from the Uttar Pradesh government as a refund against their claim of electricity duty exemption.
The small-cap company informed about the development saying, “We are pleased to inform that our steel melting unit at Ghaziabad has been declared as Pioneer Unit under “The Industrial and Service Sector Investment Policy 2004” of Govt. of Uttar Pradesh and pursuant to which we have received an amount of Rs. 4,71,47,847.12 (Rupees Four Crore Seventy-One Lac Forty-Seven Thousand Eight Hundred Forty-Seven and Paisa Twelve only) from Govt. of Uttar Pradesh as Refund against our claim of Electricity Duty Exemption.”
Rathi Steel share price history
In one month, this multibagger stock has risen around 8 percent. In the last six months, this multibagger stock has risen from around ₹38 to ₹57 apiece on BSE, logging nearly 50 percent appreciation in this time horizon. In YTD time, this multibagger small-cap stock has surged from ₹31.19 to ₹57 per share, logging a nearly 80 percent rise in this period. In one year time, the small-cap stock ascended from ₹5.61 to ₹57 per share mark, recording over 900 percent rise in this time frame.
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