Multibagger Stock: Shares of real estate and infrastruct firm RDB Infrastructure and Power jumped nearly 3 per cent during the intraday trading on January 7 to hit a fresh 52-week high amid a highly volatile session following the news that its board approved a proposal to subscribe to 70 per cent equity share capital of Solar Agro-Parks Private Limited.

The scrip started today's session in positive territory at Rs 71 against the previous close of Rs 69.42 on the NSE, and the stock continued the upward trend during the major session to hit the intraday high of Rs 71.50, a jump of 3 per cent.

However, mirroring the market sentiment, the stock was trading flat in the late hours. At the time of writing, the scrip was trading at Rs 69.50, up 0.82 per cent.

Meanwhile, the 52-week low of the stock stood at Rs 35, which the stock hit on September 9 last year. The company has a market cap of Rs 1,394.86 crore.

Share Price History- 3,600% Return In 5 Years

In the last 5 trading sessions, the stock jumped over 8 per cent, and in a month it rose over 45 per cent. At the same time, in the last six months the stock rose 38 per cent, while in a year it jumped 34 per cent. In 5 5-year period, the real estate sector stock has given a multi-bagger return of over 3,600 per cent.

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Meanwhile, the BSE has placed the shares under Short-Term Additional Surveillance Measure, Stage 1 (ST ASM-1).

Why are the shares rising today?

The share price fluctuation came after the company informed the stock exchanges that its board of directors had approved a proposal to subscribe for 70 per cent of the share capital of Solar Agro-Parks Private Limited, a company operating in the solar energy sector.

According to information shared with stock exchanges, under the agreement, the company will subscribe for 7,000 shares with a par value of Rs 10 per share, totaling Rs 70,000.

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After this investment, the company will have a 70 per cent stake and control in the proposed entity.

Disclaimer: This story is just for information purposes only. It should not be considered as investment advice, as The Daily Jagran does not advise investing.