Multibagger stock below Rs 30 gets locked at upper circuit to make a new 52-week high!

The company has shown positive traction as it has given multibagger returns of over 247 per cent in just 6 months and over 149 per cent in 1 year

On Thursday, shares of Modern Dairies got locked at 5 per cent upper circuit to make a new 52-week high of Rs 28.40.   

Incorporated in 1992, Modern Dairies manufactures and sells a wide range of milk and milk products. The company’s milk processing capacity is 3.25 lakh + litres per day. For liquid milk, the company has a tie-up with Mother Dairy. In FY22, the company generated revenue from milk – 16 per cent, curd -15 per cent, desi ghee – 14 per cent, cheese- 13 per cent and others – 42 per cent.   

Modern Dairies has entered into restructuring of its debts with one of its lenders, Edelweiss ARC, to settle the outstanding debts and in order to preserve the business.   

The company has shown positive traction as it has given multibagger returns of over 247 per cent in just 6 months and over 149 per cent in 1 year. In the past 5 trading sessions, the stock has been hitting consecutive upper circuits and has jumped more than 20 per cent. On a monthly basis, the stock has given outstanding returns of over 73 per cent.  

Keep a close eye on this multibagger stock.