The stock market saw a boom on Friday and the Nifty closed above the level of 23800. This is a good sign for the market. Corporate action is being seen in some stocks.

Nava Limited's share price rose on Friday and closed at Rs 1,002.95. The market cap of this company is Rs 14.55 thousand crore. It is a low PE ratio stock, with a price to earnings ratio of 14. The

52-week low of Nava Limited shares has been Rs 434.70, while the 52-week high has been Rs 1,348. Nava

Limited said that its board of directors has approved a stock split to increase the liquidity of the company's equity shares. Each fully paid equity share with a face value of Rs 2 will be split into two equity shares with a face value of Rs 1. The board has fixed the record date as Monday, January 20, 2025.

Nava Limited is a multinational group with roots in India as a ferroalloy manufacturer. It has diversified into various sectors including power production, mining, agro business and healthcare. With significant operations in India, Southeast Asia and Africa, the company has a substantial presence in the global market.

Its power production assets, including thermal power plants in India and a large-scale power plant in Zambia, contribute significantly to its revenues. Additionally, its mining operations, particularly coal mining activities in Zambia, provide a strategic advantage. The company's recent entry into the agro business, particularly avocado plantations in Zambia, reflects its commitment to sustainable growth and diversification.

According to the quarterly results, net sales declined 2 per cent to Rs 942.9 crore in Q2FY25 compared to Q2FY24 and net profit grew 71.7 per cent to Rs 331.9 crore. In its half-yearly results, net selling grew 9.1 per cent to Rs 2,201.3 crore and net profit grew 45.1 per cent to Rs 777.6 crore in H1FY25 compared to H1FY24.

The market cap of the company is Rs 15,604 crore and in the last 5 years it has given a good profit growth of 31.3 percent CAGR. The PE of the company's shares is 14x, ROE 18 percent and ROCE 16 percent. In September 2024, FIIs bought 24,77,360 shares and increased their stake to 11.02 percent compared to 9.32 percent in June 2024. This stock gave a multibagger return of 124 percent in just 1 year, 800 percent in 3 years and 1,400 percent in 5 years.