Todays multibagger: By hitting back-to-back upper circuits, this company soared 1,906 per cent in just one year!

It had over a sixfold increase in volume in an otherwise sluggish market.

On Tuesday, only buyers were visible in the case of Katare Spinning Mills, as the stock hit a 5 per cent upper circuit on BSE at Rs 377.25 per share. It had over a sixfold increase in volume in an otherwise sluggish market.   

This multi-bagger textile stock has been hitting the upper circuit for many trading sessions. Its stock price has surged 1,906 per cent in just one year! It gained 751 per cent year-to-date while providing investors with returns of 478 per cent in just six months!    

Considering the yearly performance, the net sales of Katare Spinning Mills declined 66.95 per cent to Rs 3.46 crore as against Rs 10.47 crore during the previous year ended March 2021. However, the net profit soared to Rs 7.92 crore against a net loss of Rs 1.74 crore during the previous year ended March 2021.     

The preparation & spinning of cotton fibre, particularly blended cotton, is the main business of Katare Spinning Mills, which was founded in 1980. The hospitality sector is another area of business for Katare Spinning Mills in addition to generating cotton yarn and solar energy.  

Keep a close eye on this scrip for the upcoming sessions.