Multibagger stock below Rs 20: Watch out for this FMCG stock that was locked in the upper circuit on April 13

The stock gave multibagger returns on 138.78 per cent in just 1 month.

The domestic Indian indices ended the day flat on Thursday. The BSE Sensex was up by 0.06 per cent to a level of 60,431.   

On the sectoral front, indices were trading mixed, BSE FMCG Index was up by 0.20 per cent and in last 5 days it is up by 0.36 per cent only.  

One of the leading edible oil companies, shares of Prime Industries Ltd zoomed 5 per cent upper circuit to Rs 18.84 per share from its previous closing of Rs 17.95 per share. The stock also made a new 52-week high of Rs 18.84 per share.   

The shares of the company are hitting back-to-back upper circuit from March 1, 2023. The stock gave multibagger returns on 138.78 per cent in just 1 month. In the year 2022, the stock was down by 46.51 per cent whereas in the current year (2023), the stock is up over 200 per cent.   

Prime Industries Limited was incorporated in the year 1992. The Company set up plant in Village Gobindgarh, Tehsil Abohar, Dist. Ferozepur in the state of Punjab for manufacturing Vanaspati Ghee.  

In Q3FY23, net sales rose by 21 per cent and net profit rose 250 per cent over Q3FY22. The maximum stake of the company is owned by the promoters of the company (56.98 per cent) and rest is owned by the general public as of December 2022.