This multibagger stock’s net profit zoomed more than 5700 per cent!

The net profitability of the company shot up by more than 5756 per cent from the corresponding quarter last year to Rs 16.80 crore.

On Monday, shares of Cochin Minerals & Rutile zoomed 10 per cent to get locked at upper circuit level and make a new 52-week high of Rs 345.70. The scrip witnessed a massive spurt in volume by more than 7.4 times.  

For quarter ended December 31, 2022, total income of the company rose by more than 35 per cent from last year’s same quarter to Rs 120.75 crore. The net profitability of the company shot up by more than 5756 per cent from the corresponding quarter last year to Rs 16.80 crore.    

Cochin Minerals & Rutile is manufacturing the best quality synthetic rutile across the world. CMRL is India's largest manufacturer of aqua ferric chloride which conforms to all major international standards.   

The company's main product is synthetic rutile which finds application as raw material for titanium pigment and titanium sponge/ metal industry. Its by-products include ferric chloride, ferrous chloride, iron hydroxide, rutoweld (used in welding electrode industry) and others.   

The stock has witnessed heavy buying and has given multibagger returns of more than 197 per cent in just 1 year and more than 105 per cent in just 6 months. Keep a close eye on this trending multibagger stock.