New Delhi: The stock market is under pressure this week. Nifty and Sensex are trading with a decline for the second consecutive day. At the same time, there are some penny stocks, which have seen buying for the second consecutive day and have hit the upper circuit. In the same sequence, the shares of Veer Energy & Infrastructure Ltd, a microcap company of the renewable energy sector, hit the upper circuit for the second consecutive day on Tuesday. Today, the shares of this company have risen by 5 percent, while on Monday also they closed with a gain of 5 percent.

Upper circuit for the second consecutive day

On Tuesday, shares of Veer Energy & Infrastructure Ltd opened at a level of 24.91 with a jump of five percent from its previous closing share price of Rs 23.73 and got blocked at this level. Let us tell you that this giant company of the renewable energy sector has no debt for the last 5 years, it is debt free. Foreign institutional investors (FIIs) have a 0.4 percent stake in it, which has remained the same since March 2022. That is, foreign investors have neither bought nor sold this stock for more than the last 2.5 years.
 

This is the shareholding pattern

The property to earning (P/E) ratio of this renewable energy stock is 39.74, which is high. Veer Energy's 52-week high is Rs 35.64, while its 52-week low is Rs 16.41. If we look at its market cap, it is Rs 37.27 crore. Promoters hold 25.7% stake in it, while public shareholding is 73.9%. At the same time, foreign investors (FII) hold 0.4 percent stake.