Swastika Fin-mart Private Limited has seen a significant increase in its shareholding in Ujaas Energy Limited, with its stake rising from 9.45% to 23.61%. This substantial change comes as a result of a recent bonus share issue by Ujaas Energy.

Key Details of the Shareholding Change

Nature of the Transaction

Sunil Nyati, a director at Swastika Fin-mart, disclosed that this increase in shareholding was passive in nature. The company did not make any acquisition for consideration; instead, the change occurred solely due to the bonus share issue by Ujaas Energy.

Shareholder Classification and Regulatory Compliance

Swastika Fin-mart is classified as a non-promoter shareholder of Ujaas Energy Limited. This disclosure was made in compliance with the Securities and Exchange Board of India (SEBI) regulations concerning substantial acquisition of shares and takeovers.

Impact of the Bonus Issue

The bonus issue has resulted in a significant shift in Swastika Fin-mart's ownership stake in Ujaas Energy, more than doubling their previous holding. Such changes in shareholding patterns can be of interest to other investors and market watchers, as they may influence the company's ownership structure.

Investors and stakeholders of Ujaas Energy Limited may want to take note of this development. However, as this change resulted from a bonus issue rather than market transactions, its immediate impact on the company's operations is likely to be minimal.

Ujaas Energy , a solar power generation company, has seen its shares hit the 5% upper circuit for the sixth consecutive trading session, reaching Rs 371.00. This surge comes as the company approaches its bonus share record date, highlighting strong investor interest in the stock.

Stock Performance

Bonus Issue Details

Ujaas Energy has announced a bonus issue of 2:1, meaning shareholders will receive two new shares for every share held. Key dates for this corporate action are:

• Record Date: October 10
• Credit of Bonus Shares: October 13

Company Overview

Ujaas Energy, incorporated in 1999, primarily operates in the solar power generation sector. The company has recently diversified its portfolio by entering the electric vehicle segment with the launch of E-spa.

Market Sentiment

The stock's Relative Strength Index (RSI) of 50 indicates a neutral market sentiment. Despite the recent surge, it's worth noting that the stock has experienced a decline of over 7% year-to-date. However, looking at a broader timeframe, Ujaas Energy shares have gained nearly 20% over the past 12 months.

Investors should note that while the stock has shown significant momentum recently, it trades at a high price-to-earnings multiple of 550. This elevated valuation suggests that market expectations for the company's future performance are considerable.