Mukul Agrawal's portfolio multibagger steel stock bags new orders worth Rs 343.72 crore from Oil and Natural Gas Corporation Ltd (ONGC)
The stock gave multibagger returns of 920 per cent in just 3 years whereas BSE Sensex Index is up by 50 per cent.
On Monday, one of the Top Gainers on BSE, shares of ISMT Ltd gained 5.70 per cent to Rs 101.76 per share from its previous closing of Rs 96.27 with an intraday high of Rs 106 and an intraday low of Rs 97.26. The stock’s 52-week high is Rs 112.24 and its 52-week low is Rs 68.10. The shares of the company saw a spurt in volume by more than 5.42 times on BSE.
The company's stock price recently experienced a significant surge after they were awarded two contracts/orders by Oil and Natural Gas Corporation Limited (ONGC), a domestic Indian entity. These contracts involve the supply of regular casing pipes, in accordance with the specifications outlined within the agreements themselves. The total value of these two contracts is a substantial Rs 343.72 crore. The company must fulfil these contracts between April 11, 2024 and February 13, 2025. It's important to note that while the press release mentions these are significant contracts, the specific details regarding the conditions and terms are not publicly available.
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ISMT Ltd, founded in 1977, is a leading Indian manufacturer of seamless tubes and engineering steels, with a focus on both hot-finished and cold-finished options, catering to a diverse range of industries like automotive, power, and construction. The company has a market cap of over Rs 3,000 crore and has delivered good profit growth of 18.7 per cent CAGR over the last 5 years.
An ace investor, Mukul Agrawal owns a 1.33 per cent stake in the company as of December 2023. The stock gave multibagger returns of 920 per cent in just 3 years whereas BSE Sensex Index is up by 50 per cent. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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