Multibagger Stock: 370% return in 3 years, now this auto share jumped 17% in a single day due to excellent results – banco products share surges 17 percent in morning trade
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On the technical front, the 200-day moving average of this stock has been recorded at Rs.256.94. While the 50 day moving average is Rs 315.63. With the current price of Rs 384, the stock has crossed the 50 day and 200 day moving averages. This indicates a strong and sustained upward move in the long term.
This is a good stock for investors who are looking for a small cap stock in Auto Components & Equipment segment which can generate healthy returns in the long term. Today heavy buying in this stock is being seen due to the good quarterly results of the company.
During Q1FY24 the company had registered a significant growth of 27.81% in its revenue to reach Rs 749 crore as compared to the same quarter last year. The operating profit of the company also stood at Rs 97 crore with a good growth of 44.77 per cent.
This stock has given excellent returns to its investors in the past. This stock has given 370% return in last 3 years. Investors can keep an eye on it.
This article is powered by Dalal Street Investment Journal, India’s No. 1 Investment Magazine. Click here to get regular updates about Winning Stocks and Recommendations.
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