Heavy Buying Alert: Multibagger Auto Stock Jumps Over 4 Per Cent As Board Is Likely To Announce Bonus Shares After 17 Years
The shares of the company have a PE of 19x, an ROE of 27 per cent and an ROCE of 27 per cent.
Banco Products (India) Ltd that the Board Meeting of the company is scheduled to be held on Wednesday, November 13, 2024, to consider the following business:
- To consider the standalone and consolidated un-audited financial results for the quarter and period ended September 30, 2024.
- To consider and recommend to the shareholders for their approval, the issue of bonus shares to the equity shareholders by capitalization of reserves.
On Wednesday, shares of Banco Products (India) Ltd gained 4.3 per cent to an intraday high of Rs 725 per share from its previous closing of Rs 695.10 per share. At the closing bell, the shares of the company were trading at Rs 714 per share, up 2.72 per cent with a spurt in volume by more than 2.34 times on BSE.
Banco Products (India) Ltd. is a renowned manufacturer and supplier of innovative engine cooling modules and systems. With a legacy dating back to 1961, the company has been at the forefront of providing cutting-edge solutions for both domestic and international markets. Under the visionary leadership of Mr. Mehul K. Patel, a seasoned automotive industry expert, Banco Products has consistently delivered high-quality products and services.
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Banco Products offers a diverse range of engine cooling modules, including radiators, charge air coolers, fuel coolers, oil coolers, AC condensers, deaeration plastic tanks, and specialized gaskets. These components play a crucial role in optimizing the performance and efficiency of internal combustion engines, as well as emerging electric vehicle (EV) systems. The company's products cater to a wide spectrum of applications, from passenger cars and light commercial vehicles to heavy-duty trucks and buses.
The company has a market cap of over Rs 5,100 crore and has delivered good profit growth of 31.9 per cent CAGR over the last 5 years with a healthy dividend payout of 71.1 per cent. The shares of the company have a PE of 19x, an ROE of 27 per cent and an ROCE of 27 per cent. The stock is up by 60 per cent from its 52-week low of Rs 443.75 per share and gave multibagger returns of 280 per cent in 2 years.
Disclaimer: The article is for informational purposes only and not investment advice.