This multibagger stock surged over 15 per cent today to make a new 52 week high, do you own it?

The company has shown good traction and has given over 117 per cent returns in just 6 months

On Thursday, shares of Skipper Ltd skyrocketed over 15 per cent to make a new 52-week high and an intraday high of Rs 133.10. The scrip witnessed a massive spurt in volume by more than 2.02 times. In its press release, the company announced they have two positive developments on the government policy front which will have a positive bearing on the company’s growth and performance. 

The first announcement states that the centre has further expanded the scope of RoDTEP (Remission of duties and taxes on exported products) to take a major step to boost exports. This scope will include the export of iron and steel which mainly covers engineering products and items. This new development will boost their export competitiveness and potentially improve overall operational performance. 

The second announcement states that the government will launch a transmission system for the integration of over 500 GW capacity by 2030, connecting mega solar parks with wind power zone with National Grid System and will see an investment of Rs 2.44 trillion in domestic transmission projects. 

Skipper Ltd is one of the world’s leading manufacturers for power transmission & distribution structures and prominent manufacturer of telecom and railway structures. The company is actively pursuing projects worth Rs 5400 crore on the international front and about Rs 5100 crore on the domestic front. 

The company has shown good traction and has given over 117 per cent returns in just 6 months. Keep a close eye on this trending stock.