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

Shares of the company gained more than 110 per cent in the last six months.

Shares of Captain Polyplast Limited were locked in the upper circuit on Tuesday, gaining 5.00 per cent. The company has delivered robust Quarterly Results. 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 also gained over 110 per cent in the last six months. The stock has also made a fresh 52-week high today.

Recently, the company has been approved as a vendor for supplying rooftop solar plants under the PM Surya Ghar Yojana in Gujarat. They are currently partnered with five electricity distribution companies in the state. Recognizing the scheme's potential to reach 1 crore households, the company is actively exploring opportunities for empanelment in other states to expand their reach and capture these potential solar projects.

The company posted robust Quarterly Results. The revenue of the company for Q3FY24 stood at Rs 82.60 crore which increased by 15.33 per cent YoY. The operating profit of the company stood at Rs 10.32 crore, while the PAT of the company stood at Rs 5.26 crore, from a profit of Rs 2.54 crore last year same quarter.

Captain Polyplast Limited is a manufacturer, and exporter of supreme quality HDPE Pipes and irrigation equipment including Drip Irrigation Systems, Sprinkler Irrigation Systems, Disc Filters, Screen Filters, Hydro-Cyclone Filters, Sand Filters, Gravel Filters, Compression Fittings, Valves (Electric and mechanical), Fertilizer Tanks, Digital Controllers, Pressure Gauges, etc.

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.