CESC Share Price

CESC Share Price Soars 4% to Rs 196.4: What’s Fueling the Surge?

The power sector is buzzing, and CESC is leading the charge! The stock has surged 4% today, hitting Rs 196.4, and it’s not stopping there. What’s behind this meteoric rise, and how does it stack up against the BSE Power index? Let’s dive into the details and see why CESC is the stock everyone’s talking about!

CESC Stock Zooms 4%: A Look at Today’s Market Movers

CESC shares have skyrocketed 4% today, currently trading at Rs 196.4. Meanwhile, the BSE Power index is holding steady at 8,303.0, up 0.3%. Among today’s top gainers in the BSE Power index are Indian Energy Exchange and ABB, both up 1.3%. On the flip side, NHPC and NTPC are among the top losers, down 0.6% and 0.3%, respectively.

CESC’s Stellar 12-Month Performance: A 134.2% Gain

Over the past year, CESC has delivered a jaw-dropping performance, soaring from Rs 83.9 to Rs 196.4—an impressive gain of 134.2%! In comparison, the BSE Power index has risen by 90.0% during the same period, moving from 4,370.9 to 8,303.0. Other top performers in the BSE Power index include BHEL (up 171.8%), Torrent Power (up 149.2%), and Adani Power (up 106.2%).

How Do the Benchmark Indices Compare?

While CESC has been on a tear, the broader market indices have also shown solid gains. The BSE Sensex currently stands at 81,670.8, with notable losers today being Bajaj Finserv and JSW Steel, both down 1.2%. Over the last 12 months, the Sensex has climbed 24.8%, rising from 65,433.3 to 81,670.8—a gain of 16,237.5 points. On the NSE, Nifty is trading at 24,998.4, down 0.1%, with BPCL and Bajaj Finserv among the top losers.

CESC Financial Update: Strong Growth in Profit and Sales

CESC’s financial performance has been robust. For the quarter ended June 2024, the company’s net profit grew by 5.4% YoY, reaching Rs 3,880 million, compared to Rs 3,680 million in the same period last year. Net sales saw a 12.8% increase, rising to Rs 48,630 million from Rs 43,100 million in April-June 2023.

For the full year ended March 2024, CESC reported a 3.6% increase in net profit, reaching Rs 14,473 million, compared to Rs 13,973 million in FY23. Revenue grew by 7.3%, totaling Rs 152,932 million for FY24. The company’s current price-to-earnings (P/E) ratio, based on rolling 12-month earnings, stands at 17.7.

Conclusion:

With a 134.2% gain in just one year and a strong financial performance, CESC is proving to be a powerhouse in the stock market. As the company continues to grow its profits and revenue, and with the power sector showing strong potential, CESC could be set for even more gains. CESC Share Price, Investors and market watchers should keep a close eye on this stock as it continues its upward trajectory.