Heavy buying: Back-to-back upper circuit in this micro-cap multibagger stock; hits fresh 52-week high!

Shares of the company gained more than 150 per cent in the last six months.

Shares of International Combustions India Limited were locked in the upper circuit on Thursday, gaining 5.00 per cent. The stock also made a 52-week high of Rs 891.10. In the last six months, the stock has gained about 170 per cent.

The company posted impressive Quarterly Results in Q1FY24. The revenue of the company stood at Rs 68.80 crore which grew by 60.6 per cent YoY. The operating profit of the company stood at Rs 11.32 crore which grew by 520.1 per cent on a YoY basis, while the PAT of the company stood at Rs 5.72 crore, which increased by 2151.57 per cent YoY.

International Combustion (India) Limited is engaged in the manufacturing and supply of Vibrating Screens and Feeders, Cone Crushers, Bulk Material Handling Equipment, Mining haulages, Raymond Grinding Mills, Air Classifiers and Flash Drying systems and Geared Motors and Gear Boxes.

Shares of International Combustion (India) Limited have also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 238.20 on July 27, 2022, to Rs 891.10 on July 27, 2023, an increase of about 250 per cent in a one-year holding period.

Today, the stock opened at Rs 891.10, with a high and low of Rs 891.10 and Rs 891.10, respectively. The stock is currently trading at Rs 891.10, up by 5.00 per cent.

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