1000% return in five years! Multibagger stock to declare buyback of shares soon

Stock Market Today: Multibagger stock Nava Ltd that has given 1000% returns in last five years is likely to declare buyback of shares soon.

Multibagger returns by Nava Ltd shares

Nava Limited share price that had seen 52 week highs of ₹673 .35 in September 2024 has seen sharp correction ever since with correction in the markets and also pressure on the broader markets largely due to valuation concerns, economic growth concerns, global uncertainties, currency volatility and relentless seeing by Foreign portfolio investors. However Nava Ltd share price at ₹378 has risen multifold in last two years since the stock was trading at ₹1330-135 levels in February 2023. Further over past 5 years the Nava Ltd share price is up almost 1000% and has given Multibagger returns to the investors

Nava Ltd is now expected to reward investors by declaring Buy back of shares

Nava Ltd to consider share buy back soon

As per the release by Nava Ltd on the exchanges dated 14 February 2025 , Board of directors of the Company will be held on Wednesday, February 19, 2025, inter alia, to consider the proposal for buyback of equity shares of the Company.

Nava Ltd as per the release also has informed exchanges that as per the Company’s Code of Conduct for regulating, monitoring and reporting of trading by Insiders and Code of Practices and Procedures for fair disclosure of Unpublished Price Sensitive Information, the trading window for dealing in Company’s shares will remain closed from February 15, 2025 to February 21, 2025 (both days inclusive) for all the designated persons, their immediate relatives and all connected persons covered under the said Code

Other Developments

Nava Ltd had recently also intimated exchanges about CARE Ratings having upgraded the rating of Nava Bharat Energy India Limited (NBEIL-Subsidiary of NAVA Limited)

The Unsupported Credit rating of NBEIL is upgraded are-

a. Longterm: A- stable from BBB stable

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.