Heavy buying: Back-to-back upper circuit in this multibagger stock; gains over 1000 per cent in a year!

Shares of the company gained more than 20 per cent in the last six months.

Shares of Jai Balaji Industries Limited were locked in the upper circuit on Tuesday, 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 20 per cent.

The company also posted robust Quarterly Results. The revenue of the company for Q4FY24 stood at Rs 1,845.60 crore which increased by 7.05 per cent YoY. The operating profit of the company stood at Rs 397.04 crore, while the PAT of the company stood at Rs 272.98 crore, from a loss of Rs 13.08 crore last year same quarter.

Jai Balaji Industries Limited is primarily engaged in business of manufacturing of various value-added products of Ductile Iron Pipes (DI pipes) and Special Grade Ferro Alloys including basic steel products like DRI (Sponge iron), Pig iron, Mild Steel Billet, Reinforcement Steel TMT Bars, Wire Rods etc along with sinter and captive power plant. JBIL has four integrated steel plants located at Burdawan (West Bengal) and Durg (Chhattisgarh).  The stock has delivered multibagger returns of over 1,000 per cent return in the last one year and DIIs have increased their stake in the company in June 2024.

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.