Dolly Khanna gains Rs 2,98,40,975 & Sangeetha S gains Rs 1,95,85,800 from this multibagger micro-cap stock in just 1 day; scrip hit upper circuit & 52-week high!

The stock gave multibagger returns of 129 per cent from its 52-week low of and a whopping 380 per cent in 3 years

The domestic benchmark indices ended the day in red. The BSE Sensex Index is down by 0.93 per cent at a level of 71,355 and the NSE Nifty-50 Index is down by 0.91 per cent at 21,513. The BSE Mid-Cap Index was down by 0.87 per cent and the BSE Small-Cap Index was down by 0.36.

Though the market was in red, one multibagger micro-cap stock hit a 20 per cent upper circuit to Rs 624.15 per share from its previous closing of Rs 520.15 per share. The stock also made a new 52-week high of Rs 624.15 per share. At the closing bell, shares of the company were trading at Rs 603.85 per share, up 83.7 points or 16.09 per cent with a spurt in volume by more than 10.43 times on BSE.

The stock name is PONDY OXIDES & CHEMICALS LTD (POCL).

POCL is a resource recovery specialist, taking lead scraps and battery scrap and transforming them through smelting and refinement into pure lead, lead alloys, zinc metal, and zinc oxide, providing sustainable, secondary metals for various industries.

POCL informed that the meeting of the Board of Directors has been scheduled on Friday, January 12, 2024, inter alia, apart from other corporate matters, to consider the proposal for raising funds by way of the issue of one or more instruments, including, equity shares, convertible securities of any description or warrants or debt securities, through preferential issue, private placement, rights issue or any other methods or combination thereof as may be permitted including the approval of the shareholders of the company.

Two ace investors, Dolly Khanna owns 3,56,523 shares or 3.07 per cent and Sangeetha S own 2,34,000 shares or 2.01 per cent stake in the company as of September 2023. Dolly Khanna’s portfolio is worth approx. Rs 450 crore while Sangeetha S’s portfolio is worth approx. Rs 520 crore.  

As of today’s closing price of the stock, their, portfolio has gained Rs 2,98,40,975 (Dolly Khanna) and Rs 1,95,85,800 (Sangeetha S) from this stock in just 1 day.

POCL has a market cap of over Rs 700 crore with a 3-year stock price CAGR of 60 per cent. The company reported positive numbers in its Quarterly Results and annual results.

The stock gave multibagger returns of 129 per cent from its 52-week low of Rs 264 per share and a whopping 380 per cent in 3 years. Investors should keep an eye on this multibagger micro-cap stock.

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