The sad story of multi-bagger share, rocketed from Rs 35 to Rs 3,150, beaten by a government decision
EKI Energy was a multi-bagger stock that earned its investors more than 6000 per cent profit in the initial days. However, due to a government decision related to carbon credit selling, its shares registered a tremendous decline.
The shares have hit the upper circuit continuously in the last 3 days. (Credits- Reuters)
Highlights
1. The listing of EKI Energy’s shares took place in April 2021.
2. Since the listing, there was a continuous upper circuit in the shares.
3. EKI Energy’s company was established in 2011.
New Delhi. Shares of EKI Energy, a company that gives carbon credits to other big companies, closed with a jump of 10 per cent today. After a steep fall in the last 1 year, it has seen a jump of 48 per cent in the last 3 days. However, it has still dropped a lot from its peak price. This stock was trading at Rs.35 in April 2021. After this, increasing rapidly, this share reached Rs 3150 in January 2022. At present, its price is Rs.757.
The stock is trading 47.87 per cent above its one-year low. The reason for the rise in its shares is a government move. In fact, under the Paris Agreement, the Central Government has made a list of activities that will be taken into account at the time of selling carbon credits. There was a sharp decline in this stock last week. Then the new auditor of the company pointed out the irregularities in the finances. However, for the last three sessions, it is continuously hitting the upper circuit of 10 per cent.
Gave full returns to investors
This share was listed on 7 April 2021 at Rs.147. On July 6, this share reached 2964. After this, the stock also touched the level of Rs.3150. However, after that, it started declining. Behind this was the government’s decision related to carbon credit selling. On February 17, 2023, EKI Energy made a low of 511.95. Significantly, on February 17 itself, it jumped 9.99% and closed above 625. Let us tell you that this was the first company of BSE SME to touch the valuation of $ 1 billion. In January 2022, this share reached Rs 9,903. From this listing till this time, the stock had made a profit of more than 600 times.
What does the company do?
Started in 2011, EKI Energy Services is one of the largest companies in the Carbon credit industry in India. The company provides services in climate change advisory, carbon credits trading, business excellence advisory and electrical safety audits. Although its main business is trading carbon credits.
