Heavy buying observed: Shares of this mining company were locked in at 10 per cent upper circuit level on December 5

It has delivered good profit growth of 218 per cent CAGR over the last 5 years

On Monday, shares of Tega Industries kept the buyers busy by locking in at the 10 per cent upper circuit level of Rs 629.40. The scrip witnessed a massive surge in volume by more than 28.26 times.  

Recently, the company announced its Quarterly Results where the sales rose 19.71 per cent to Rs 276.19 crore against the previous quarter last year. The operating EBITDA levels grew by 37.7 per cent to Rs 54 crore from Q2FY22. The net profit of the company showed a massive spike of 56.76 per cent to Rs 35.35 crore from the corresponding quarter last year.  

Established in 1976, Tega Industries is a leading manufacturer and distributor of specialized, critical and recurring consumable products for the global mineral beneficiation, mining and bulk solids handling industry. Globally, Tega industries are the second-largest producer of polymer-based milliners and are preferred partner for more than 700 customers. As on September 30, 2022, the company has a strong order book of Rs 345 crore.  

The company has gained traction in the last six months, increasing by more than 31 per cent. It has delivered good profit growth of 218 per cent CAGR over the last 5 years. Keep an eye on this trending stock.