Back-to-back upper circuits in this pureplay-listed biodiesel company are attracting buyers; check if you own this multibagger now!

The stock has reached an all-time high due to consecutive upper circuits. On Friday, the upper circuit limit was raised from 10 per cent to 20 per cent.

The shares of Kotyark Industries are soaring as a result of continual buying in the stock. The stock has reached an all-time high due to consecutive upper circuits. On Friday, the upper circuit limit was raised from 10 per cent to 20 per cent. The shares have climbed 20 per cent and are currently, trading at Rs 411 per share with a buyer's lock. In the upcoming trading sessions, it is anticipated that new buyers will become interested in Kotyark Industries as a result of the price-volume breakout.  

The shares of Kotyark Industries have surged over 50 per cent in the past three trading sessions, and over a year, they soared more than 700 per cent!  

Considering the yearly performance, the net profit of Kotyark Industries soared 726.70 per cent to Rs 8.64 crore as against Rs 1.04 crore during the previous year ended in March 2021. Also, net sales rose by 139.31 per cent to Rs 156.05 crore as against Rs 65.21 crore during the previous year ended in March 2021. 

Incorporated in 2016, Kotyark Industries Ltd is engaged in the manufacturing of biodiesel and its byproducts. The company focusses on green energy and sustainable development of renewable resources through the adoption of environment-friendly technology. The company’s core product is biodiesel and in the process of manufacturing the same, it also produces crude glycerin.      

The global biodiesel market stood at around USD 46.79 billion by revenue at the end of 2021. It is expected to grow at a CAGR of 5.87 per cent to reach close to USD 51.48 billion in 2026. Currently, India’s biofuel production accounts for only 1 per cent of the global production.      

Long-term investors should keep Kotyark Industries on their watchlist!