Heavy buying: Back-to-back upper circuit in this micro-cap multibagger stock; PAT zooms by 163 per cent YoY!

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

Shares of G G Automotive Gears 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 two days. Hence, the stock is locked in the upper circuit. Over the previous six months, the stock has gained about 160 per cent. On Friday, the stock also made a fresh 52-week high at Rs 82.68.

The company posted strong Quarterly Results. The revenue of the company for Q1FY24 stood at Rs 21.94 crore which grew by 29.61 per cent YoY. The operating profit of the company stood at Rs 2.37 crore, while the PAT of the company stood at Rs 0.82 crore, representing a growth of 163.67 per cent YoY.

Shares of G G Automotive Gears 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 23.80 on September 15, 2022, to Rs 82.34 on September 15, 2023, an increase of about 240 per cent in one-year holding period.

Also read, Exploring the world of growth investing? (Part-1)

G.G. Automotive Gears Ltd. is one of the leading companies in the country manufacturing Transmission and Differential Gears, with the most sophisticated indigenous technology accepted in developing and advanced countries. G.G Automotive Gears Limited (GGAG) was established in February 1974 for manufacturing of gearbox housings for automobile load carriers. 

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.