650 per cent returns: Amitabh Bachchan sells 1,16,576 shares in this multibagger stock; do you hold it?

Shares of the company gained more than 40 per cent in the last six months.

Bollywood megastar Amitabh Bachchan has recently divested a portion of his holdings in D P Wires Limited. Amitabh Bachchan sold 1,16,576 shares of the company, leading to speculation about his motives and the potential implications for the stock price. As per the latest shareholding pattern of the company, Amitabh Bachchan currently holds a 1.27 per cent stake in the company, which was 1.47 per cent in September 2023.

While the specific reason for Bachchan's sale remains unknown, it's worth noting that the stock has experienced significant growth recently.  Since its listing on the exchange, it has delivered impressive returns, making it a coveted asset among investors. This rapid rise could have prompted Bachchan to partially exit his position, realizing substantial profits while diversifying his portfolio.

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In the recent quarter, the company posted robust Quarterly Results. The revenue of the company for Q2FY24 stood at Rs 272.79 crore which declined by 3.85 per cent YoY. The operating profit of the company stood at Rs 13.80 crore, while the PAT of the company stood at Rs 9.06 crore, growing by 0.33 per cent YoY basis.

D P Wires Limited is engaged in the manufacturing of steel wire and plastic products such as LRPC strands, steel wires, geomembrane sheets, PE coated and greased strands, and plastic film sheets. D P Wire’s manufacturing facility is located at Ratlam (Madhya Pradesh) with an installed capacity of 60000 tons per annum. The stock has also delivered multibagger returns of over 650 per cent in the last three years.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.