Delivering returns of 138 per cent in just one year, shares of this multibagger company hit a 52-week high!

In just one month, the stock has soared 54 per cent and gained more than 76 per cent over the period of six months.

The shares of Rajratan Global Wire rallied on Friday, reaching a new 52-week high of Rs 897 per share on BSE after the company reported strong Quarterly Results.  

The company recorded net sales and other operating income of Rs 251.43 crore, which reported a growth of 37.93 per cent from Rs 182.29 crore reported in Q1FY22. On the other hand, the operating profit was registered at Rs 54.12 crore in Q1FY23 as compared to an operating profit of Rs 36.10 crore in Q1FY22. Q1FY23 recorded a net profit of Rs 34.54 crore in comparison with the net profit of Rs 21.92 crore in the same quarter of the previous year, giving a strong rise of 57.57 per cent. In just one month, the stock has soared 54 per cent. It gained more than 76 per cent in six months and provided returns of over 138 per cent in a year.  

Established in 1989, Rajratan Global Wire Ltd produces drawn steel wire, which is used in the construction, engineering, and automotive industries. It also produces bead wire & high-carbon steel wire with a focus on tyre bead wire (TBW), which is bronze-coated and used in tyres. The business operates successfully and profitably in Thailand and India. Nearly every tyre company in India is a client of this business.  

Additionally, all production departments have implemented the digitisation of the manufacturing process with the introduction of machine data loggers. The manufacturing unit in India has a fully-installed and operational zero liquid discharge facility. The 2,500 MT new patenting furnace is now operational, debottlenecking for incremental capacity utilisation.  

Keep a close eye on this stock for the upcoming sessions, given its commendable growth and lined-up opportunities in the future.