Heavy buying: Back-to-back upper circuit in this micro-cap multibagger stock; hits fresh 52-week high!

In H2FY23, the company reported a 184.22 per cent increase in net sales YoY.

Shares of RMC Switchgears Limited were locked in the upper circuit on Monday, gaining 10.00 per cent. The stock also made a fresh 52 week high of Rs 384.75. In the last six months, the stock has gained about 46 per cent.

The company posted impressive half-yearly results. The revenue of the company stood at Rs 67.23 crore which grew by 184.22 per cent YoY. The operating profit of the company stood at Rs 12.71 crore, while the PAT of the company stood at Rs 5.60 crore, representing an impressive growth of 5281.73 per cent YoY.

RMC Switchgears Limited has also delivered multibagger returns to its shareholders in the last one year of about 1426 per cent in a one-year holding period. And on a five-year basis, the stock has gained about 500 per cent.  

RMC Switchgears Limited is engaged in the business of designing and manufacturing energy meters, LT/HT Distribution Boxes and panels, junction boxes, feeder pillars, and other power distribution and circuit protection switchgear made from mild steel, stainless steel in fabrication and deep-drawn process along with sheet molding compound and bulk molding compound (DMC) materials.

On Monday, the stock opened at Rs 356.00, with a high and low of Rs 384.75 and Rs. 356.00 respectively. The stock closed trading at Rs 384.75, down by 10 per cent.

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