Multibagger Stock: Shares of Rice Trading Company jumped 16% as soon as the market opened, do you have it? – multibagger rice maker stock soars over 16% in morning trade: do you own it
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New Delhi: The day started on a dull note in the domestic stock market. Sensex declined 0.25 per cent in early trade while Nifty fell 0.27 per cent. But in the falling market, a share of Rice Trading Company saw tremendous growth. There have been reports that the ban on export of rice from India may continue till November. It is believed that the Kharif crop may be affected due to El Nino effect. A government source has shared this information. This is the reason why the stock of Multibagger Rice Trading and Manufacturing Company rose by 16.53 per cent to Rs 218. This is its highest level of 52 weeks. The stock’s volume has also gained more than 4.54 times in tandem with the rally in price. The name of this company is Chaman Lal Setia Exports Limited. It is a rice trader and manufacturing company. The Company is engaged in the business of milling and processing of Basmati Rice. The market cap of the company is Rs 1090.54 crore.
The company recently released its quarterly results. Its details are as follows. In the first quarter of the financial year 2023-24, the company’s revenue declined by 35.85 percent and stood at Rs 263 crore. Similarly, the operating profit of the company also declined by 18.18 per cent to Rs 39 crore as compared to the previous year. During this period, the net profit of the company also declined by 22.72 per cent to Rs 27 crore. It is clear from this that the performance of the company has suffered a setback in the June quarter. But the management expects the company’s performance to improve in the days to come. It has grown by 103% in the last one year and is witnessing a lot of buying activity. Keep an eye on this trading stock in coming days.
The company recently released its quarterly results. Its details are as follows. In the first quarter of the financial year 2023-24, the company’s revenue declined by 35.85 percent and stood at Rs 263 crore. Similarly, the operating profit of the company also declined by 18.18 per cent to Rs 39 crore as compared to the previous year. During this period, the net profit of the company also declined by 22.72 per cent to Rs 27 crore. It is clear from this that the performance of the company has suffered a setback in the June quarter. But the management expects the company’s performance to improve in the days to come. It has grown by 103% in the last one year and is witnessing a lot of buying activity. Keep an eye on this trading stock in coming days.
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