From Rs 20 to Rs 80: This multibagger micro-cap luggage stock rallied 300 per cent in less than two months!
After hitting back-to-back upper circuits for several sessions, the stock recently recorded a fresh 52-week high of Rs 93 on BSE
The shares of Goblin India Limited are on a fast track. The company’s stock has gained more than 300 per cent over the last six weeks. From Rs 20 on August 10 to Rs 80.40 on September 9, the scrip has taken off like a rocket!
After hitting back-to-back upper circuits for several sessions, the stock recently recorded a fresh 52-week high of Rs 93 on BSE.
Well-established in delivering technology-based travel accessories, Goblin India offers a competitive and innovative range of products, catering to consumer needs in all significant product categories primarily, in the luggage industry.
The company is currently in a phase of expanding its product base in accessories and has accordingly, set up a new manufacturing plant located at A-44, Industrial Estate, Changodar (Gujarat) for manufacturing & assembling ABS luggage bags, ABS plus PC and PC luggage bag to be manufactured in all sizes of 18 inches, 20 inches, 24 inches, and 28 inches.
To quote from the company’s FY22 annual report, “The estimated yearly production quantity will be approximately 2 lakh pieces with an estimated revenue generation of Rs 35 crore approximately. This data pertains specifically to the ABS Plant located in Changodar. Moreover, our other production of soft luggage will have an estimated revenue generation of approximately Rs 35 to 40 crore, annually.”
A meeting of the company’s board of directors is scheduled to be held on September 26, 2022, for the allotment of up to 25 lakh equity shares on a preferential basis in accordance with the special resolution passed by the shareholders in their extraordinary general meeting held on September 9, 2022.
Investors should watch out for this buzzing micro-cap stock, which is gaining traction on the bourses!