Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; gains over 180 per cent in a year!

Shares of the company have gained about 140 per cent in the last six months.

Shares of Walchandnagar Industries Limited were locked in the upper circuit on Friday, 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. In the last six months, the stock has gained about 140 per cent.

The company’s Board of Directors have approved the preferential issue of up to 217,18,023 equity warrants to the promoter and non-promoter group at a price of Rs 114 per warrant. Each warrant is convertible into one fully paid-up equity share of the company of face value Rs. 2/-. The warrants will be issued on a preferential basis to certain members/entities belonging to the Promoter & Promoter Group, payable in cash and/or by conversion/appropriation of an outstanding unsecured loan of Rs. 31,58,56,935. Ace investor Ashish Kacholia also participated in the preferential issue.

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Walchandnagar Industries Limited has also delivered multibagger returns of over 180 per cent in one year holding period.

Walchandnagar Industries Limited is a Heavy Engineering and Project execution company and has diversified business offerings across core sectors with a focus on EPC and turnkey projects, Hi-Tech manufacturing, engineering products and engineering services. The company undertakes projects and supply of machinery and equipment, in the fields of nuclear power, aerospace, missile, defence, oil & gas, steam generation plants, independent power projects, Turnkey Cement and Sugar plants.

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.