FIIs bought 1,53,48,927 shares and Sangeetha S bought 33,36,900 shares of this multibagger penny stock; Reports stellar quarterly and nine-month results!
The stock gave multibagger returns of 730 per cent in 3 years and a whopping 4,600 per cent in a decade.
Today, shares of BCL Industries Ltd gained 6.46 per cent to an intraday high of Rs 75.15 per share from its previous closing of Rs 70.59 per share. The stock’s 52-week high is Rs 81 and its 52-week low is Rs 38.06.
The company reported stellar Quarterly Results (Q3FY24) and nine-month results (9MFY24) for the fiscal year 2024. Here are the details:
Quarterly Results: The total income increased by 28.7 per cent to Rs 646.24 crore and net profit increased by 66.7 per cent to Rs 32.78 crore in Q3FY24 compared to Q2FY24.
Nine-Month Results: The net sales increased by 16.4 per cent to Rs 1,586.97 crore and net profit increased by 81.6 per cent to Rs 72.20 crore in 9MFY24 compared to 9MFY23.
In the December quarter (Q3FY24), an ace investor, Sangeetha S bought 33,36,900 shares and FIIs bought an additional 1,53,48,927 shares of this company. The combined shareholding of promoters and FIIs represents 62.8 per cent, while the public owns 37.21 per cent.
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Earlier, the company and its subsidiary Svaksha Distillery Limited secured ethanol supply contracts worth Rs 561 crore from leading Oil Marketing Companies (OMCs) - BPCL, IOCL, HPCL, and RIL. The total volume committed amounts to a staggering 8.20 crore litres.
BCL Industries Limited is one of India’s largest agro-processing manufacturing companies with diverse businesses and vertical integrations. Established in 1976, BCL Industries Limited is engaged in edible oils, rice milling, grain-based distilleries and real estate. It is present in Punjab and West Bengal. BCL Industries Ltd Limited is a part of the Mittal group with a market cap of Rs 1,986 crore.
The stock gave multibagger returns of 730 per cent in 3 years and a whopping 4,600 per cent in a decade. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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