Mukul Agarwal bought 200,000 shares of this multibagger small-cap stock in Q2FY24 and gained Rs 4,41,10,000 in just 1 day; Do you have it?
The stock gave multibagger returns of 2,610 per cent in 2 years and a whopping 4,000 per cent in 3 years.
Indian stock markets were in green for the second straight day i.e., Wednesday after a sharp sell-off on Monday due to the Israel-Palestine war, with the benchmark BSE Sensex and NSE Nifty indices both gaining over 0.60 per cent.
Along the market is trading green, this multibagger small-cap stock is bucking the trend and trading in the green. Let us know why is this stock trending:
An ace investor, Mukul Agarwal bought 2,00,000 shares or 1.64 per cent stake in this multibagger Small-Cap stock in September Quarter (Q2FY24). On October 11, 2023, the stock was locked in a 10 per cent upper circuit to Rs 2,426.45 per share, up by 220.55 points. The stock also made a new 52-week high of Rs 2,426.45 per share and saw a spurt in volume by more than 2.33 times on BSE.
Hence, 2,00,000 shares x Rs 220.55 per share = Rs 4,41,10,000 in just 1 day.
Here comes an interesting twist: The company's Board of Directors have announced bonus shares in the ratio 2:1 i.e., 2 equity shares for every 1 equity share held by the company's shareholders as of the record date. The company fixed the record date for the bonus issue of shares as Tuesday, October 17, 2023.
About the Company & Financials:
The company provides renewable energy project development services and constructs solar plants in India. The company has bagged multiple orders from India and outside India for engineering, construction and procurement (EPC) and other related work.
The company's half-yearly and annual results were positive, with net sales and net profit increasing significantly in both periods. In H2FY23, net sales increased by 66.22 per cent to Rs 210.77 crore and net profit increased by 32.61 per cent to Rs 11.67 crore, compared to H2FY22. For the full year FY23, net sales increased by a whopping 144.78 per cent to Rs 392.65 crore and net profit increased by a strong 122.93 per cent to Rs 24.79 crore, compared to FY22.
The company had a market cap of Rs 2,965 crore and has delivered good profit growth of 43.9 per cent CAGR over the last 5 years. The shares of the company have an ROE of 21.4 per cent and an ROCE of 12.4 per cent. The stock gave multibagger returns of 140 per cent year to date; 2,610 per cent in 2 years and a whopping 4,000 per cent in 3 years.
The stock name that is creating the excitement is GENSOL ENGINEERING LIMITED.
Do you own Gensol Engineering Ltd.’s stock in your portfolio? Do let us know in the comment section
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Disclaimer: The article is for informational purposes only and not investment advice.