Now Reading: Ujaas Energy shares jump 68% in a week after Q1 results
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Ujaas Energy shares jump 68% in a week after Q1 results
Livemint reports that Ujaas Energy shares surged 68% this week to close at Rs 257.80, a multi-year high, after the company announced strong June quarter earnings. Net profit rose 31% year-on-year to…
The Story in Brief
Livemint reports that Ujaas Energy shares surged 68% this week to close at Rs 257.80, a multi-year high, after the company announced strong June quarter earnings. Net profit rose 31% year-on-year to Rs 3.25 crore, while revenue increased 11% to Rs 10.22 crore, led by sales of solar power systems. The sharp rally prompted the NSE to seek clarification from the company. Ujaas Energy said it had no undisclosed developments. The stock repeatedly hit the upper circuit, leading exchanges to reduce the circuit limit to 5%.
The Indian Opinion
The 68% weekly jump far outpaces the 31% profit rise, feeding narratives of a small-cap frenzy. But the NSE's clarification query and the company's denial of any undisclosed trigger suggest this rally is speculative, not fundamental. An ordinary investor should ask: can the revenue from solar systems, still just Rs 6.67 crore, justify the market cap at this price? Next quarter's order book will settle that.
Source: livemint.com
This story was synthesised by AI from the source linked above.
