In an era where investments align with national fervor and tourism trends, one stock has stood out, basking in the limelight of both Vibrant Gujarat and Lakshadweep tourism. The nation’s attention is undeniably drawn to these two significant developments, making this stock a compelling addition to your portfolio. Say hello to Praveg Ltd.
Weekly Chart Analysis
Praveg Ltd has witnessed a phenomenal upswing, marked by a robust weekly chart trend.
With a market capitalization of ₹2,675 crore, the stock has reached unprecedented highs. The intriguing question lingers: is this just the beginning of its ascent? Commencing the year at ₹349 per share, Praveg Ltd concluded January 10th at ₹1,176, reaching an all-time high of ₹1,300 on the same day. The factors propelling this surge include its association with Vibrant Gujarat, Lakshadweep tourism, escalating FII investments, and the company’s near debt-free status.
Key Developments
Praveg Ltd’s narrative is embellished with key developments, notably in December 2023. The company secured a substantial venture – managing 50 tents on Agatti Island in Lakshadweep. These tents offer more than just accommodation; they provide spaces for changing, storage, and engaging activities such as scuba diving, weddings, and corporate events. This three-year project, extendable for two more years, adds to Praveg Ltd’s existing portfolio of 580 rooms across different states. Vishnu Patel, the Chairman of Praveg, envisions Agatti Island as an eco-friendly haven, blending luxury with environmental responsibility, showcasing the island’s unique culture and nature.
Robust Financial Performance
- Reduced debt, achieving near debt-free status.
- Strong profit growth with a CAGR of 182% over the last 5 years.
- Impressive return on equity (ROE) track record: 3 Years ROE at 48.3%.
- Consistent and healthy dividend payout ratio of 64.1%.
About Praveg Ltd
Headquartered in Ahmedabad, Praveg Ltd is a versatile player with a strong foothold in exhibition management, event management, tourism, hospitality, and publication. The company’s offerings include luxury tent cities and resorts at various locations, including Rann of Kutch, Varanasi, Daman & Diu, and Sardar Sarova. The leadership’s strategic vision and the company’s dynamic presence make Praveg Ltd a noteworthy contender in the ever-evolving landscape of tourism and events.
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