Promoters bought 2,28,13,340 shares in Q1FY25: Heavy buying is witnessed in this multibagger penny stock under Rs 65; Jumps over 15 per cent today!
The stock gave multibagger returns of 670 per cent in 5 years and a whopping 1,500 per cent in a decade.
Today, shares of BCL Industries Ltd gained jumped over 15 per cent to an intraday high of Rs 61.87 per share from its previous closing of Rs 53.75. The stock’s 52-week high is Rs 86.25 while its 52-week low is Rs 43.13. The shares of the company saw a spurt in volume by more than 8 times on BSE.
BCL Industries Limited is one of India’s largest agro-processing manufacturing companies with diverse businesses and vertical integrations. Established in 1976, BCL Industries Limited is engaged in edible oils, rice milling, grain-based distilleries and real estate. It is present in Punjab and West Bengal. BCL Industries Ltd Limited is a part of the Mittal group with a market cap of Rs 1,505 crore. The company's expansion is paying off. The Bathinda unit's new plant doubled its ethanol production capacity, and a new plant in Kharagpur along with a subsidiary's expansion boosted total capacity to 700 KLPD. This strong growth is meeting high demand, with a full order book from Oil Marketing Companies until November 2024.
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According to Quarterly Results, the net sales increased by 34.3 per cent to Rs 613.65 crore in Q4FY24 compared to Rs 456.96 crore in Q4FY23. The company reported a net profit of Rs 23.71 crore in Q4FY24 compared to net sales of Rs 24.60 crore in Q4FY23. In its annual results, the net sales increased by 20.1 per cent to Rs 2,200.62 crore in FY24 compared to Rs 1,819.92 crore in FY23 while the net profit increased by 49 per cent to Rs 95.92 crore in FY24 compared to Rs 64.36 crore in FY23.
In Q1FY25, Promoters of the company bought 2,28,13,340 shares and increased their stake to 59.47 per cent compared to 56.08 per cent in March 2024. Additionally, an ace investor, Sangeetha S own a 1.13 per cent stake in the company as of June 2024. The stock gave multibagger returns of 670 per cent in 5 years and a whopping 1,500 per cent in a decade. 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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