1,000 per cent returns: Heavy buying witnessed in this multibagger defence stock; hits upper circuit today!

Shares of the company gained more than 70 per cent in the last six months.

Shares of PTC Industries Limited gained more than 16 per cent on Wednesday. The stock also got locked into the upper circuit, however, it could sustain it. PTC Industries Limited has posted strong Quarterly Results in Q4FY24. The revenue of the company stood at Rs 72.41 crore which grew by 16.35 per cent YoY. The operating profit of the company stood at Rs 25.95 crore which grew by 37 per cent on a YoY basis, while the PAT of the company stood at Rs 14.72 crore, which increased by 59.93 per cent on a YoY basis.

A few months back Aerolloy Technologies, a subsidiary of PTC Industries, inked a game-changing agreement with Dassault Aviation, the makers of the Rafale fighter jets. This multi-year deal marks a significant win for India's "Make in India" initiative, with Aerolloy poised to manufacture the full range of titanium castings for the Rafale starting in 2024.

PTC Industries Limited is engaged in the manufacturing of high-quality engineering components of steel and titanium castings for various critical and super-critical applications in the defence sector and medical equipment industry, among others. PTC has a wholly owned subsidiary, ATL, engaged in titanium castings manufacturing. The stock has also delivered multibagger returns of over 1,000 per cent in the last three years. FIIs increased their stake in the company in March 2024.

The stock has shown impressive growth, and investors should keep a close eye on this stock.  

Disclaimer: The article is for informational purposes only and not investment advice.