Heavy buying: Back-to-back upper circuit in this micro-cap multibagger stock; Net profit zooms by 696 per cent!

Shares of the company have gained about 100 per cent in the last six months.

Shares of Lehar Footwears Limited were locked in the upper circuit on Tuesday, gaining 5.00 per cent. The stock also made a fresh 52-week high of Rs 164.25. The stock has witnessed heavy buying activity from investors in the last two days. Hence, the stock is locked in the upper circuit.

The company posted strong Quarterly Results. The revenue of the company for Q1FY24 stood at Rs 64.73 crore which grew by 77.28 per cent YoY. The operating profit of the company stood at Rs 5.47 crore, while the PAT of the company stood at Rs 2.29 crore, representing an impressive growth of 696.38 per cent YoY.

Lehar Footwears Limited has also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 62.65 on August 22, 2022, to Rs 164.25 on August 22, 2023, an increase of about 160 per cent in one year holding period.

Lehar Footwears Limited manufactures a variety of footwear such as light-weight fancy slippers, Polyvinyl Chloride PVC footwear, synthetic leather chappals, hawai chappals and canvas shoes. It markets products under the Lehar brand. Facilities are in Jaipur, Rajasthan.

On Tuesday, the stock opened at Rs 159.70, with a high and low of Rs 164.25 and Rs 159.55. The stock is currently trading at Rs 164.25, up by 4.99 per cent over its previous close of Rs 164.25.

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