Shares of multibagger Triveni Turbine Ltd have delivered over 450% returns to investors in the last three years. Shares of the power equipment firm, which closed at Rs 97 on May 12, 2021 hit a high of Rs 564 in the current session (May 14, 2024 ), clocking 473% returns during the period. In comparison, Sensex has risen 49.57% in three years. Triveni Turbine stock closed at Rs 555.20 in the previous session.
The debt-free stock opened higher at Rs 564.20 on BSE today. The power sector stock has gained 32% this year and risen 38.24% in a year.
Total 0.13 lakh shares of the firm changed hands amounting to a turnover of Rs 70.02 lakh on Tuesday. Market cap of the firm stood at Rs 17,624 crore. The stock hit a 52-week low of Rs 311.85 on October 26, 2023 and a 52-week high of Rs 596.65 on May 3, 2024.
Triveni Turbine shares have a beta of 0.7, indicating very low volatility in a year
In terms of technicals, the relative strength index (RSI) of the stock stands at 54.6, signaling it's trading neither in the overbought and nor in the oversold zone. Triveni Turbine shares are trading higher than the 20 day, 30 day, 50 day, 100 day, 150 day, 200 day but lower than the 5 day and 10 day moving averages.
Seven promoters held 55.84 per cent stake in the firm and 91,413 public shareholders owned 44.16 per cent or 14.03 crore shares for the quarter ended March 2024. Of these, 88095 resident individuals held 1.13 crore shares or 3.58% stake with capital up to Rs 2 lakh.
The company is yet to announce its Q4 and FYU24 earnings.
In the December quarter of last fiscal, Triveni Turbine posted a 30% rise in net profit to Rs 68 crore against Rs 52.60 crore profit during the quarter ended December 2022.
Total income rose to Rs 448.92 crore in Q3 of the last fiscal from Rs 337.70 crore a year ago. Expenses rose to Rs 354.06 crore in the December 2023 quarter from Rs 267.66 crore in the third quarter last fiscal.
The company’s board declared an interim dividend of Rs 1.30 per fully paid-up equity share of face value of Re 1 each . It also announced a special dividend of Re 1 per fully paid-up equity share of the face value of Re 1 each for 2023-24, the company said.
About the company
Triveni Turbine Limited is an industrial steam turbine manufacturer. The company is primarily engaged in the business of manufacturing and supplying power generating equipment and solutions and has manufacturing facilities in Bengaluru, Karnataka. Approximately 6,000 steam turbines supplied by the company are installed across 20 industries in over 75 countries, including Europe, Africa, Central and Latin America, Southeast Asian and South Asian Association for Regional Cooperation countries.