Heavy buying: Back-to-back upper circuits and 52-week highs in this micro-cap multibagger stock; reports 218 per cent jump in net profit!
The stock gave multibagger returns of 118 per cent in just 1 month whereas BSE Industrials Index is up by 10.36 per cent.
On Monday the benchmark indices started the day higher. The BSE Sensex Index and NSE Nifty-50 Index were on the verge of reaching their all-time highs, with only an 8-point difference between them. At the closing bell, BSE Sensex Index is down by 0.34 per cent at 63,168.30 and NSE Nity-50 Index is down by 0.37 per cent at 18,755.45.
Today, one of the Top Gainers on BSE, Indo Tech Transformers Ltd zoomed 5 per cent upper circuit to Rs 430.01 per share. The stock also traded at a new 52-week high of Rs 430.01. The shares of the company saw a spurt in volume by more than 1.21 times on BSE.
Indo Tech Transformers Ltd. is engaged in the business of manufacturing power and distribution transformers and various special application transformers, mobile substation transformers and substations. The stock is hitting back-to-back upper circuits and 52-week highs in the recent trading sessions. The company has a market cap of Rs 456 crore with a 3-year CAGR of 61 per cent.
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The net sales increased by 45.70 per cent to Rs 144.67 crore and net profit skyrocketed by 218.48 per cent to Rs 19.30 crore in Q4FY23 over Q4FY22. The net sales increased by 32.43 per cent to Rs 370.91 crore and net profit skyrocketed by 110.83 per cent to Rs 25.70 crore in FY23 over FY22.
The stock gave multibagger returns of 118 per cent in just 1 month whereas BSE Industrials Index is up by 10.36 per cent. Investors should keep an eye on this micro-cap stock.