Multibagger from its 52-week low: Low PE & debt-free NBFC stock hit 5 per cent upper circuit on August 28
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 102 per share.
Industrial Investment Trust Ltd (IITL) is a non-banking financial holding company established in 1933. Classified as a Systemically Important Non-Deposit taking Non-Banking Financial Company, IITL primarily focuses on investment activities. Its portfolio includes equity shares, mutual fund units, fixed deposits, government securities, and inter-corporate deposits and loans, primarily within its group of companies. The company's investment decisions are managed by a dedicated committee. Beyond traditional investments, IITL also engages in private equity, margin funding, and real estate ownership.
Today, shares of Industrial Investment Trust Ltd hit a 5 per cent upper circuit to Rs 246.75 per share from its previous closing of Rs 235 per share. The stock’s 52-week high is Rs 284.95 and its 52-week low is Rs 104. The shares of the company saw a spurt in volume by more than 1.01 times.
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The company previously announced plans to sell a significant stake (41.72 per cent) to new investors (Acquirers). This deal required regulatory approval from the Reserve Bank of India (RBI) and involved a public offer of shares. However, the RBI has rejected the application due to concerns about the financial structure of the resulting group. Consequently, the Acquirers have terminated the share purchase agreement, leading to the cancellation of the public share offer.
The company has a market cap of over Rs 550 crore and as of March 2024, the company is debt-free. The shares of the company have a PE of 9.4x whereas the industry PE is 24x. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 102 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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