FIIs bought 35,66,839 shares & Ashish Kacholia bought 25,000 shares of this multibagger forging stock: From Rs 92.55 to Rs 292 per share in just 1 year!
From Rs 92.55 per share (52-week low) to Rs 292 per share, the stock gave multibagger returns of 215.5 per cent in just 1 year whereas BSE Small-Cap Index is up by 63 per cent.
Today, shares of Balu Forge Industries Ltd gained 5.36 per cent to Rs 292 per share from its previous closing of Rs 277.15 per share. The stock’s 52-week high is Rs 307 and its 52-week low is Rs 92.55.
Balu Forge Industries Ltd. is a manufacturer of precision-engineered forged components, including fully-finished and semi-finished crankshafts. Their products cater to a wide range of industries like automobiles, defence, railways, and even the new energy sector. The company not only adheres to the latest emission regulations and can produce components for new energy vehicles, but they are also actively researching new materials like lightweight alloys and advanced composites. BFIL is a prominent player in the specialized engineering and precision machined components industry servicing a marquee global clientele spread across various industries such as aerospace, automotive, oil and gas, railways and defence.
Also Read: Artificial Intelligence (AI) revolutionizing healthcare: A look at the present and future!
Recently, the company announced that its equity shares are listed on the National Stock Exchange of India (NSE) under the symbol "BALUFORGE" and it started on April 29th, 2024. This marks a significant step for BFIL as it gains access to a wider pool of investors on the prestigious NSE platform.
As of March 2024, FIIs bought 35,66,839 shares and increased their stake to 9.71 per cent compared to 7.67 per cent in March 2023. Additionally, an ace investor, Ashish Kacholia bought 25,000 shares and increased its stake to 2.14 per cent compared to 2.11 per cent in December 2023.
The company has a market capitalization of Rs 2,950 crore and the shares of the company have an ROE of 22 per cent & an ROCE of 27 per cent. From Rs 92.55 per share (52-week low) to Rs 292 per share, the stock gave multibagger returns of 215.5 per cent in just 1 year whereas BSE Small-Cap Index is up by 63 per cent. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ’s 'Tiny Treasure' service recommends researched small-cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.