Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; gains over 900 per cent!

Shares of the company have gained about 70 per cent in the last six months.

Shares of Kirloskar Electric Company 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. In the last six months, the stock has gained about 70 per cent.

The company posted strong Quarterly Results. The revenue of the company for Q1FY24 stood at Rs 117.57 crore which grew by 14.97 per cent YoY. The operating profit of the company stood at Rs 8.96 crore, while the PAT of the company stood at Rs 1.83 crore, from a loss of Rs 4.71 crore on a YoY basis.

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Shares of Kirloskar Electric Company Limited have also delivered multibagger returns to their shareholders in the last three years. During this period, the company’s share price jumped from Rs 12.25 on October 09, 2020, to Rs 126.55 on October 06, 2023, an increase of about 900 per cent in a three-year holding period.

Kirloskar Electric Company Limited, established in 1946, is an electrical engineering company that produces AC Motors, DC Motors, Transformers, Switchgear and Electronics through nine manufacturing units. It caters to core sectors like power generation, transmission and distribution, transportation, renewable energy, sugar, steel, cement, and allied industries.

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.