880 per cent returns: Heavy buying witnessed in multibagger stock which made a new 52-week high in today’s session!
Furthermore, the stock has surged by more than 40 per cent in just 1 month
On Tuesday, shares of Saregama India surged by more than 4.5 per cent, reaching an intraday high and a new 52-week high of Rs 444 apiece on the BSE. The scrip experienced a significant increase in trading volume and closed down by 1.61 per cent at Rs 416.50 apiece on the BSE.
In March 2023, the company recorded its highest ever quarterly revenue of Rs. 207.41 crore, representing a growth of 15.07 per cent compared to March of the previous year when it was Rs. 180.24 crore. The EBITDA level for March 2023 amounted to Rs. 73.78 crore, reflecting a 5 per cent rise from March 2022 when it was Rs. 70.27 crore. The quarterly net profit for March 2023 reached Rs. 49.28 crore, indicating a 2.22 per cent increase from March 2022 when it was Rs. 48.21 crore.
The revenue from music licensing experienced a year-on-year growth of 23 per cent, marking the fifth consecutive year with growth exceeding 20 per cent. This achievement can be attributed to a combination of investing in high-quality new content and the ongoing expansion of the catalogue.
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Saregama India Limited, previously known as The Gramophone Company of India Ltd, is an RPSG group company that owns the largest music archives in India and one of the largest in the world. The ownership of nearly 50 per cent of all the music ever recorded in India also positions Saregama as the most authoritative repository of the country's musical heritage. Additionally, Saregama has expanded into other branches of entertainment such as film and series production, live events, and music-based consumer products.
The stock has witnessed substantial buying activity, providing returns of more than 880 per cent in just 3 years, making it a multibagger. Furthermore, the stock has surged by more than 40 per cent in just 1 month. Keep a close eye on this trending stock.