Heavy buying: Back-to-back upper circuit in this micro-cap multibagger stock; reports 100 per cent increase in net profit!

Shares of this company have given about 130 per cent returns in the last six months.

Shares of Loyal Equipments Limited were locked in the upper circuit on Monday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. Over the previous six months, the stock has gained about 130 per cent.

The company posted strong Quarterly Results. The revenue of the company on a standalone basis for Q2FY24 stood at Rs 26.09 crore which grew by 125.45 per cent YoY. The operating profit of the company stood at Rs 5.19 crore, while the PAT of the company stood at Rs 3.75 crore, gaining by 103 per cent which was Rs 1.84 crore in last year's same quarter.

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Loyal Equipments 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 34.90 on October 31, 2022, to Rs 160.20 on October 30, 2023, an increase of about 330 per cent in a one-year holding period. And in the last six months, the stock has gained about 130 per cent.

Loyal Equipments Limited is engaged in manufacturing and supplying Coded Pressure Vessels and heat Exchangers (Ferrous and non-ferrous), Air Cooled Heat Exchangers, Skids for Dynamic and Static Machineries, Base-Plates, Sterilizers, Chimneys and Columns, Tanks and receivers, Site Fabrication & Erection Activities.

Investors should keep a close eye on this stock.

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