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 120 per cent in the last six months.

Shares of Suraj Products Limited were locked in the upper circuit on Friday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. The stock also made a fresh 52-week high of Rs 308.55. In the last six months, the stock has gained about 120 per cent.

The company posted strong Quarterly Results. The revenue of the company for Q2FY24 stood at Rs 67.78 crore which grew by 11.44 per cent YoY. The company's operating profit stood at Rs 12.41 crore, while the PAT of the company stood at Rs 7.31 crore, which grew by 11.75 per cent on a YoY basis.

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Suraj Products Limited has also delivered multibagger returns to its shareholders in the last three years. During this period, the company’s share price jumped from Rs 15.10 on November 27, 2020, to Rs 308.55 on November 24, 2023, an increase of about 1900 per cent in a three-year holding period.

Suraj Products Limited manufactures sponge iron and pig iron at its facilities in Sundargarh district, Odisha. The company has a vertically integrated continuous-casting steel manufacturing facility with a capacity of 36,000 MTPA of sponge iron, 24,000 MTPA of pig iron, 72,600 MTPA of billets and 72,600 MTPA of TMT bars.

The stock has shown tremendous growth, and investors should keep a close eye on this stock.

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