Multibagger Stock: This stock has made 10 thousand to 16 lakh rupees, 16,000% return in 10 years, can become a rocket again
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If we look at the shareholding pattern of the company, the majority stake is with the public. Public holds 55.83 per cent stake in the company while promoters hold 44.17 per cent. Talking about public shareholders, the share of mutual funds in this is just 0.06 per cent while foreign investors’ stake is 14.23 per cent. Retail investors hold 34 per cent stake in it. The company is a part of BSE 500 and has a market cap of Rs 9,049 crore. Its EPS on TTM basis is 12.93. The stock is currently trading at a PE of 52.69.
how far will the price go
In the financial year 2013, the company’s sales were just Rs 117 crore, which increased to Rs 3,206 crore in the financial year 2023. The profit of the company was Rs 2.59 crore in 2015, which increased to Rs 539 crore in 2022. In the fourth quarter of this financial year, the company’s revenue declined by two percent to Rs 833 crore, while profit fell by 15 percent to Rs 120 crore. Since the company has got a big order from the government, it is seeing a lot of growth.
According to technical analysts, the company stock is in a strong bullish momentum and may move higher in the near term. The stock is currently trading above its 50-day moving average, indicating a short-term bullish trend. Not only this, its 50-day moving average is above its 200-day moving average, which is showing positive signs in the long term. Experts say that it can go up to Rs 800 in the near term. On Friday, it closed at Rs 673.30, down 1.16 per cent on the BSE.
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