600 per cent returns: This multibagger stock zoomed 15 per cent to make a new 52-week high!

The quarterly net profit of the company soared 131 per cent from corresponding quarter last year

On Thursday, shares of Kirloskar Electric Company zoomed more than 15 per cent to make a new 52-week high of Rs 96.03 apiece on BSE. The scrip witnessed massive spurt in volume by more than 3.46 times.   

In Q3FY23, the company’s net sales of the company zoomed 40 per cent from December 2021 quarter to Rs 115.75 crore. The EBITDA level of the company stood at Rs 10.56 crore, witnessing a jump of massive 760 per cent. The quarterly net profit of the company soared 131 per cent from corresponding quarter last year to Rs 3.38 crore.                       

Kirloskar Electric Company Ltd, established in 1946, is an electrical engineering company that produces AC Motors, DC Motors, Transformers, Switchgear and Electronics through nine manufacturing units. It caters to core sectors like power generation, transmission and distribution, transportation and renewable energy, sugar, steel, cement and allied industries.  

The stock has experienced significant buying activity, driven by its impressive performance, which has resulted in multibagger returns of 600 per cent in the last two years. Moreover, in the last year alone, the stock has surged more than 260 per cent. Keep a close eye on this trending multibagger stock.