Heavy buying and 350 per cent returns: Back-to-back upper circuit in this multibagger stock; hit fresh 52-week high!

Shares of the company have gained more than 150 per cent in the last six months.

Shares of Brady & Morris Engineering Company Limited were locked in the upper circuit on Tuesday, gaining 5.00 per cent. The stock also made a fresh 52-week high. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. The stock has gained more than 150 per cent in the last six months.

In the recent quarter, Q4FY24, the net sales of the company increased by 67.29 per cent at Rs 26.00 crore as compared to Rs 15.54 crore for the corresponding quarter previous year. The company reported a 66.69 per cent increase in its net profit at Rs 2.52 crore for the quarter ended March 31, 2024, as compared to Rs 1.51 crore for the same quarter in the previous year.

Brady & Morris Engineering Company Limited is engaged in manufacturing of material handling equipment such as chain pulley blocks and various types of cranes and electric hoist blocks under the brand name ‘Morris’ with a total annual capacity of 8400 pulley blocks and 300 cranes at its facilities in Vatva and Bareja (both in Gujarat).

The company boasts strong relationships with both customers and suppliers. Their expertise lies in manufacturing diverse material handling equipment used across various industries like steel, oil & gas, cement, and more. They cater to a wide range of clients, including big names like ACC Limited, ONGC, Indian Oil, and NTPC. The stock has delivered multibagger returns of over 350 per cent in one year.

The stock has shown tremendous growth, and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.