52-week high alert: This metal company's share has zoomed after reporting the highest-ever production, do you own it?
The stock has given a multibagger return of over 3,000 per cent in just three years.
Today, the share of Lloyds Metals and Energy Ltd surged over 4 per cent and hit a new 52-week high of Rs 414 on reporting the best-ever operating performance for Q1FY24, with Direct Reduced Iron (DRI) production increasing by 45 per cent year on year (YoY) at 66,273 tons and Iron ore production by 400 per cent YoY.
The share of this company has given a multibagger return of 3752.97 per cent from Rs 10.27 to Rs 395.7. The share saw a spurt in volume by 1.56 times on Bse. Lloyds Metals and Energy is in the business of manufacturing sponge iron, power generation, and mining activities.
On the iron ore front, the Company has reported the best-ever monthly production for the month of April 2023 at 1.2 million tons in Q1FY24. The Company also shipped its first export order in Q1FY24, further expanding its geographical reach beyond PAN India.
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Lloyds Metals is currently trading at Rs 411.95, up by 16.25 points or 4.11 per cent from its previous closing of Rs 395.70 on the BSE. The scrip opened at Rs 395.20 and has touched a high and low of Rs 412.30 and Rs 395.20 respectively. So far 1,69,847 shares were traded on the counter.
Last one week high and low of the scrip stood at Rs 413.40 and Rs 374.00 respectively. The current market cap of the company is Rs 20,697.79 crore. The promoters holding in the company stood at 65.75 per cent, while Institutions and Non-Institutions held 0.19 per cent and 34.05 per cent respectively.