Heavy buying: Back-to-back upper circuit in this multibagger small-cap stock; gains over 500 per cent!

Shares of the company gained more than 200 per cent in the last six months.

Shares of Suraj Products Limited were locked in the upper circuit on Saturday, 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. In the last six months, the stock has gained more than 200 per cent.

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 company posted robust Quarterly Results. The revenue of the company for Q3FY24 stood at Rs 73.59 crore which increased by 58.11 per cent YoY. The operating profit of the company stood at Rs 13.37 crore, while the PAT of the company stood at Rs 7.41 crore, from a profit of Rs 5.57 crore last year same quarter.

Suraj Products Limited has also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 134.85 on May 19, 2023, to Rs 909.55 on May 18, 2024, an increase of about 500 per cent in a one-year holding period.

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.