Keep an eye on this multi-bagger stock, which was locked in the upper circuit on December 15

The stock gave multi-bagger returns of 153.09 per cent year to date, although the BSE Sensex has only increased by 4.42 per cent.

One of the Top Gainers on the BSE today, shares of Madras Fertilizers Ltd surged and reached an upper price band of Rs 73.65 per share, after being locked in the 20 per cent upper circuit. Furthermore, the stock reached a new 52-week high of Rs 73.65 per share. The company's stock price has increased significantly today, as a result of recent strong trading activity.

In quarterly and annual financial statements, the corporation presented excellent figures. According to annual reports, profit in FY22 was only Rs 3 crore, it skyrocketed 5467 per cent to Rs 167 crore in FY23. The stock PE multiple is 5.04 whereas the industry PE multiple is 15. The stock price CAGR is 154 per cent in 1 year. All of this points to excellent managerial performance and hence it witnessed some fresh buying today.

Madras Fertilizers Limited is engaged in the manufacturing of urea and complex fertilizers. It is also involved in manufacturing bio-fertilizers and trading eco-friendly agrochemicals, organic manure and city compost under the brand name “Vijay”. Today, the shares of the company saw a spurt in volume by more than 8.14 times on BSE.

The stock gave multi-bagger returns of 153.09 per cent year to date, although the BSE Sensex has only increased by 4.42 per cent. Investors must keep this stock on their watch list.