4,900% returns in four years! Multibagger penny stock in focus; here’s why
Multibagger penny stock Servotech Renewable Power System witnessed strong buying action in trade on Monday, April 28, after it informed exchanges that it has incorporated Dream League of India as a subsidiary.
“… We hereby inform the Stock Exchange that Dream League of India (T10) Private Limited has been incorporated as a Wholly-Owned Subsidiary of Servotech Sports and Entertainment Private Limited, which is a subsidiary of Servotech Renewable Power System,” said the company in a filing.
Dream League of India, which belongs to the sports and entertainment space, is yet to commence its operations. Describing the rationale behind the deal, the company said that the acquisition will help carry on the business of operating, promoting, establishing and improving all kinds of sports and games which may include operating teams, players, franchisees, leagues etc. This company is incorporated as a special purpose Vehicle (SPV) of its holding company.
Servotech Renewable Power System has subscribed to the paid-up share capital of the company in cash, amounting to ₹10 lakh.
Other developments
Meanwhile, last week, the company on April 23 announced that it secured a prestigious order for a 4.1 MW on-grid rooftop solar project from the Waltair Division, East Coast Railway, situated in Visakhapatnam, Andhra Pradesh. The project was valued at ₹15.8 crore.
The company’s board is slated to meet next week on May 6, 2025, to consider and approve the yearly audited financial results of the company for the period ended March 2025. It will also consider the payment of dividend.
Servotech Renewable shares deliver multibagger gains
The shares of Servotech Renewable Power System gained following this announcement. The erstwhile penny stock settled the trading session on Monday 5.61% higher at ₹131, close to its day’s high of ₹131.75.
The stock has had a remarkable journey over the last four years, as it has moved from trading at ₹2.58 apiece on September 2, 2021 to today’s close of nearly ₹130, giving an astounding return of 4,977% during this period.
The 52-week high for multibagger stock Servotech Renewable Power System shares is ₹205.40 while its 52-week low is ₹75.50 on the NSE.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
