Stock of this SME company has zoomed over 100% in one month

Shares of Taylormade Renewables hit a new high of Rs 163.50 today and have zoomed nearly 900 per cent in the past six months

Shares of Taylormade Renewables hit a new high of Rs 163.50 after they hit the 5-per cent upper circuit on the BSE on Thursday at 12:14 pm, in an otherwise weak market. Around 24,000 equity shares had changed hands and there are pending buy orders for 12,000 shares on the BSE at the time of writing of this report.

In the past one month, the stock zoomed 131 per cent, as compared to 1.7 per cent decline in the S&P BSE Sensex. In the past three months, it soared 358 per cent as against 6 per cent fall in the benchmark index. Moreover, in the past six months, it skyrocketed nearly 900 per cent, as compared to a marginal 0.17 per cent gain in the Sensex.

Taylormade Renewables, on Thursday, announced that the company has been selected for the award for excellence in treatment of Hazardous Wastewater, to be awarded by Chief Minister of Gujarat, Bhupendra Bhai Patel, on March 3, 2023. The award will be received by the chairman and managing director of the company, Dharmendra Gor.

Besides, on February 23, 2023, Taylormade Renewables announced the receipt of new work order worth Rs 13.06 crore from Dodhia Chem-Tex Pvt. Ltd., Mumbai, Maharashtra. The total work order book including this work-order stands Rs 28 crore, the company said.

Taylormade Renewables is India's one of leading company in providing renewable energy. Solar concentrators and CPC collectors for thermal, dish and box cookers, Eco chullas and biomass gasifiers, solar CPC, PV cells and modules from Linuo-Ritter, solar dryers.

The company have new product "TRL-RAIN". TRL-RAIN technology is a process which removes salt and other chemicals from the water, resulting in having fresh water for various applications in the industry, and making the industry a ZLD unit in true sense.

"Thrust in rural electrification, renewable energy with special focus on Solar Energy and Decentralized Distributed Generation (DDG) will, inter-alia, increase the penetration of electricity in the country thereby driving the demand further. With the timely interventions by the Government of India in addressing the issues affecting the power industry adversely, the outlook for the sector is quite optimistic with ample market opportunities available for financial products," the company said in FY22 annual report.

With the depleting fossil fuels and the attendant environmental hazards associated with coal-fired thermal power plants, priority is shifting towards harnessing Renewable Energy sources. Mechanisms are being devised for utilizing Renewable Energy sources with special thrust on development of solar energy, the company said.

Taylormade Renewables trades in the SME segment under the "M" group on the BSE. The trading, clearing and settlement in the SME segment is done on a T+1 basis. Trades done in BSE SME scrips are required to be compulsorily settled in demat mode. The market lot size of the scrip is 4,000 shares.

Taylormade Renewables had low outstanding equity shares of 9.8 million as on September 30, 2022. The promoters held 62.69 per cent stake in the company. The remaining 37.31 per cent holding are with the individual shareholders (24.51 per cent) and bodies corporate (12.27 per cent), shareholding pattern data shows.