Multibagger stock: Swan Energy delivered over 500% return in less than 3 years; up for 6th straight year
Swan Energy is one such stock that has delivered phenomenal returns to its long-term shareholders. Also Read: Hindalco shares jump 5% after Novelis files for IPO in the US The company's shares, valued at ₹120 apiece in November 2021, have surged by 518% to reach the current price of ₹742 per share. A significant portion of this increase occurred over the past five months, with the stock rallying from ₹287 per share to its current level, delivering a massive return of 160%.
In terms of yearly performance, the stock has consistently delivered positive returns over the last five years. In CY19, it saw a surge of 7%, followed by gains of 24.59% and 9% in CY20 and CY21, respectively. CY22 witnessed a remarkable multi-bagger return of 110%, while CY23 concluded with another stellar performance, yielding a return of 67%.
As for the current year, it has seen an increase of 45% thus far. On February 19, the stock reached an all-time high of ₹764 per share. This impressive performance is attributed to the company's strong diversification.
Incorporated in 1909 as a textile company, Swan Energy was acquired in 1992 by its current promoters, Mr Navinbhai Dave and his son-in-law, Mr Nikhil Merchant, from the JP Goenka Group. After acquiring the company, the management steered it out of financial distress by diversifying into the real estate and energy sectors. Also Read: Tourism Finance Corp share price locked at 5% upper circuit as investor Aditya Halwasiya buys 13% stake Noteworthy acquisitions include Veritas India Ltd.
(VIL) and Reliance Naval & Engineering Ltd. (RNEL), bolstering its presence in petrochemicals, defence, and shipbuilding. The company's recent financials reflect diversified revenue streams and promising growth
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