Multibagger penny stock: GTL Infrastructure stock is one of the multibagger stocks that the Indian stock market has delivered in the last year. This penny stock went up from ₹0.85 to ₹1.85 per share level NSE, delivering over 115 percent return to its long-term shareholders. It would be interesting for stock market investors to know that a good number of state-owned companies have equity holdings in this penny stock. According to the share pattern of GTL Infrastructure Ltd for the quarter from October to December 2023, PSU companies like Life Insurance Corporation (LIC) of India, Bank of Baroda (BoB), Canara Bank, Central Bank of India, and Union Bank of India . These PSU stocks own more than 1 percent stake in this penny stock.
LIC shareholding in GTL Infrastructure
According to GTL Infrastructure Limited’s share pattern for Q3FY24, LIC owns 42,61,77,058 shares of GTL Infra, which is 3.33 percent of the company’s total paid-up capital. In the quarter from July to September 2023, LIC owned the same number of shares in this penny stock. This means that India’s insurance has remained constant in this penny stock during the quarter from October to December 2023.
BoB shareholding in GTL Infrastructure
According to GTL Infrastructure Ltd’s share pattern for the quarter of October to December 2023, Bank of Baroda owns 72,79,74,981 shares of GTL Infra, which is 5.68 percent of the company’s total paid-up capital. In the share pattern of the previous quarter, this PSU bank held the same number of GTL Infra shares, which means the state-owned bank remained constant in this penny stock during Q3FY24.
Canara Bank shareholding in GTL Infrastructure
In GTL Infrastructure Ltd share pattern for Q3FY24, Canara Bank owns 51,91,15,428 GTL Infra shares or 4.05 percent stake in the company. In the quarter of July to September 2023, Canara Bank held the same number of shares in this company and this PSU company also remained constant in this penny stock during the recently concluded quarter.
Shareholding of the Central Bank
According to GTL Infrastructure Limited’s share pattern for the quarter from October to December 2023, the Central Bank of India owns 94,21,54,365 or 7.36 percent stake in this penny stock. Comparing the share pattern of GTL Infra for the quarter of July to September 2023, the Central Bank of India owned the same 7.36 percent stake in this penny stock.
Shareholding of Union Bank of India
According to GTL Infrastructure Ltd share pattern for Q3FY24, Union Bank of India owns 1,54,62,71,529 shares or 12.07 percent stake in this penny stock. This PSU bank held the same 1,54,62,71,529 shares or 12.07 percent stake in GTL Infra at the end of September 2023 quarter.
It would be interesting to know that the above mentioned PSU companies have remained stable in this penny stock despite the Central Bureau of Investigation (CBI0 filing an FIR against GTL Infrastructure for ₹4,063 crore bank fraud. This was the second FIR that CBI filed against the GTL Infra. In January 2023, the CBI filed its first FIR against GTL Infra tagging ₹4,500 crore bank fraud against the company directors.
Disclaimer: The views and recommendations above are those of individual analysts, experts and trading companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 08 Mar 2024, 15:14 IST