Dolly Khanna, Vijay Kedia’s pick zooms 21 per cent in just 2 days: Q1FY24 and stock split sparks heavy buying!
The stock has witnessed significant buying activity as it has given multibagger returns of more than 900 per cent in just 3 years.
Today, the market kicked off with a blend of performances. The Sensex and Nifty commenced slightly lower, down 0.5 per cent and 0.42 per cent, respectively. Following yesterday's trend, investors might have sensed a hint of a bullish market.
In contrast to today's subdued market, the shares of Talbros Automotive Components Limited soared 11.80 per cent, the stock hits a new lifetime high Rs 1104.95 apiece. This impressive movement was accompanied by a spurt in volume by more than 3.78 times.
Today's magnificent surge can be predominantly attributed to the exceptional financial performance and stock split news, details below:
Q1 FY24 - QoQ Comparison:
The top line surged impressively by 20 per cent to reach Rs 185 crore as compared to Q4FY23. Moreover, bottom line experienced a upswing of 17 per cent, reaching Rs 17 crore in Q1 FY24, compared to previous quarter.
This exceptional quarter-on-quarter comparison indicates the company's effective strategies and improved business operations, leading to substantial revenue growth and enhanced profitability.
Q1 FY24- YoY Comparison:
In Q1FY24, the company witnessed a 20 per cent growth in total income from operations, reaching Rs 185.3 crore compared to Q1FY23. The operating profit also demonstrated significant progress, standing at Rs 27.8 crore in Q1FY24, reflecting a growth of 34 per cent.
Moreover, the company's PAT for Q1FY24 reached Rs 17.4 crore, showcasing a substantial 46 per cent growth from June 2023.
Overall, these results indicate that the company had robust growth in both revenue and profitability during the first quarter of FY24, a testament to its effective strategies. These robust financials have further bolstered investor confidence in the stock, evident in today's trading activity.
Additionally, the company has announced split of shares in 1:5 ratio i.e., shares are presently valued at Rs 10 each. This subdivision would result in each existing share being divided into 5 new shares, each with a face value of Rs 2 and fully paid-up.
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Company Snapshot:
Talbros Automotive Components operates within the manufacturing sector, focusing on the production of gaskets and forging.
According to the recent shareholding pattern of the company, Khanna holds 1,85,715 equity shares, reflecting a 1.5 per cent ownership stake in Talbros Automotive Components. Meanwhile, Kedia's ownership includes 1,50,000 shares of the company, equating to a 1.22 per cent stake.
The stock has witnessed significant buying activity as it has given multibagger returns of more than 900 per cent in just 3 years.
Keep a close eye on this trending stock.
Disclaimer: The article is for informational purposes only and not investment advice.