This Ashish Dhawan-owned RP-Sanjiv Goenka Group stock zoomed 20% today

Shares of RPSG Ventures were locked in upper circuit of 20 per cent at Rs 1,242.40, also its new all-time high. It has zoomed 66% in the past seven trading days.

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Shares of RPSG Ventures (RVL) were locked in upper circuit of 20 per cent at Rs 1,242.40 on the BSE in Monday’s intra-day trade amid heavy volumes. This is also the stock's new all-time high.

In the past seven trading sessions, the stock of the RP Sanjiv Goenka Group has zoomed 66 per cent from Rs 748.30, it was on, on August 14, 2024.

The average trading volumes on the counter also jumped four-fold, with a combined 1.9 million equity shares, representing 5.7 per cent of the total equity of the company, having changed hands on the NSE and BSE. There are pending buy orders for a combined 110,000 shares on these exchanges, data showed.

According to the company's shareholding pattern as on June 30, 2024, Investor Ashish Dhawan owned 1.23 million shares, or 3.73 per cent stake in RPSG Ventures.

RVL, together with its subsidiaries, manages a diverse portfolio of businesses encompassing information technology (IT) services, business process services, fast-moving consumer goods (FMCG) such as ayurvedic formulations, real estate and sports, among others.

While the IT services segment operates as a standalone entity, all other business ventures are conducted through different subsidiary entities.

RVL is present in Business Process Services (BPS) through its subsidiary Firstsource Solutions. It holds a 53.66 per cent stake in Firstsource, which is a provider of digital transformation solutions and services across industries such as healthcare, banking and financial services, communications, media and technology, among others.

RVL holds a 51 per cent stake in RPSG Sports, which holds the right to own and operate Lucknow Super Giants—the Lucknow franchise of the country’s preeminent men’s T20 cricket tournament, Indian Premier League. The remaining 49 per cent stake in the company is held by an unlisted company of the Group.

Meanwhile, RVL’s applications cover the entire range of activities carried out by power utilities. These include electricity billing, online consumer services, monitoring, MIS reporting as well as management of generation and distribution assets.

Besides that, the company also offers applications that can be utilised across industries, including customer relations management (CRM), human resources management (HRMS), treasury management system, cyber security, administration, e-services, digital communication solutions, applications in social media, mobility, analytics and cloud computing. 

These capabilities provide RVL with a unique opportunity to market its services to clients both within and outside the power sector, the company said in its FY24 annual report.

RVL also provides IT consultancy, support services and cybersecurity services to its group entities, which are engaged in power generation and distribution business.

With the gradual addition of new scope of services and increased IT security services, the company's service revenue has witnessed an increase over the years.

As a provider of critical services to its group entities, the risk of discontinuation of RVL's services remains low, which provides a good revenue visibility going forward, CARE Ratings said in a research note.