The Sensex and Nifty 50 both gained more than 3% last week, but on Friday, the Sensex fell by 30 points and ended at 58,191.29, while the Nifty 50 dropped by 17 points and ended at 17,314.65. The Sensex climbed overall by more than 1,775 points last week, while the Nifty 50 soared by more than 530 points. In the upcoming week, the market will pay close attention to quarterly earnings, especially for IT stocks like TCS, Wipro, HCL Tech, and Infosys, whose corporate results will be in the spotlight. Despite the aforementioned assumption, here the multibagger stocks with high promoter stakes are likely to be in focus tomorrow on 10th October Monday, let’s know-how.
RattanIndia Enterprises Ltd
RattanIndia Enterprises Limited said on Friday that it is acquiring a 100% stake in Revolt Motors, the industry leader in electric motorbikes. The company had previously acquired 33.84% of Revolt’s shareholding, with the opportunity to expand its shareholding. The most popular electric motorbike brand in the nation is Revolt Motors. Over the last year, Revolt Motors has bolstered its presence throughout India by opening 29 dealership outlets in different Indian cities.
Speaking on the transaction, Mrs. Anjali Rattan, Business Chairperson, RattanIndia Enterprises Ltd. said, “Revolt is currently by far the best EV bike in the world. It is truly world class in all aspects – its technology, cost, build quality and performance. With this acquisition of 100% shareholding in Revolt Motors we are doubling down on our belief that EV revolution in the country is coming in faster than we anticipate. I do not have any doubt that what is good for environment and the country makes for a great business. Indian’s are very keen customers when they see value. We are ready for next growth phase for Revolt Motors.”
Rahul Sharma, MD of Revolt said, “It is proud moment for me as we pass on the baton for next phase of Revolt’s growth trajectory. I am very proud of what we have created with Revolt. Revolters love their Revolts and there is a huge demand for our bikes. I am sure the Revolt revolution has just begun.”
RattanIndia Enterprises’ shares ended trading on Friday at Rs. 53.80 a piece, up 8.03% from the previous close of Rs. 49.80. In contrast to the 20-Day average volume of 2,317,677 shares, the stock had a total volume of 9,908,280 shares on Friday. The stock has produced a multibagger return of 852.21% over the past five years, and a staggering multibagger return of 3163.64% during the past three years. The stock has appreciated 7.71% YTD so far in 2022. For the quarter that ended June 2022, the company recorded a promoter shareholding of 74.80%, FIIs holding of 9.41% (up by 0.38% QoQ), DIIs holding of 0.02% and public stake of 15.76% (down by 0.40% QoQ). The promoter stake of RattanIndia Enterprises recorded in Q1 is much higher than its peers such as JSW Energy, Tata Power, Power Grid, NTPC, Adani Green and Adani Transmission.
Deep Industries Ltd
On Friday, the company said in a stock exchange filing that “This is further to our disclosure dated February 7, 2022, whereby the Company informed the stakeholders that on February 7, 2022, the Committee of Creditors of Mis. Dolphin Offshore Enterprises (India) Ltd (,Corporate Debtor’ or ‘Dolphin’) has approved the Resolution Plan submitted by Deep Industries Limited (Deep’) through its wholly owned subsidiary – Deep Onshore Services Private Limited (‘Deep Onshore’), for acquisition of Dolphin subject to obtaining necessary approval from the Adjudicating Authority i.e. NCLT. In this connection, we further wish to inform you that pursuant to Section 31(1) of the Insolvency and Bankruptcy Code, 2016, the Hon’ble NCLT Mumbai Bench has approved the Resolution Plan submitted by Deep Industries Limited (‘Deep’) through its wholly owned subsidiary – Deep Onshore Services Private Limited (‘Deep Onshore’) for acquisition of Dolphin Offshore Enterprises (India) Ltd (Dolphin) under the Corporate Insolvency Resolution Process (‘CIRP’) of the Insolvency and Bankruptcy Code 2016 (‘Code’).”
The shares of Deep Industries Ltd. ended trading on Friday at Rs. 310.50 a piece, up 4.49 per cent from the previous close of Rs. 297.15. In contrast to the 20-Day average volume of 234,584 shares, the stock had a total volume of 1,074,685 shares on Friday. The stock has produced a multibagger return over the past five years of 654.56%, and over the past year, it has climbed by 92.14%. The stock has appreciated 97.08% YTD so far in 2022. For the quarter that ended June 2022, the company reported a promoter shareholding of 63.99%, FIIs holding of 2.00% (down by 1.71% QoQ), Government holding of 0.02% and public stake of 33.99% (up by 1.72% QoQ). The promoter stake of Deep Industries recorded in Q1 is much higher than its peers such as Mahanagar Gas, Gujarat State Petronet Ltd, Indraprastha Gas, Petronet LNG and GAIL.
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