Heavy buying witnessed in this multibagger stock below Rs 25
The stock has given multibagger returns of over 136 per cent in just 6 months
Tirupati Forge was incorporated in the year 2012, with the focus to manufacture mass quantity of carbon steel forged flanges, forged components and other automotive components. The company is equipped with the modern CNC machine shop and technologically upgraded infrastructure required for the meticulous machining center to be supported by quality assurance department.
On January 03, the company had announced that they have decided to enter into new products in oil and gas segment specially targeting American Market (USA). There is a big spike in demand in oil and gas segment in the global market after the Ukraine-Russia war scenario. The company is under the process for the necessary approvals from API (American Petroleum Institute) and is targeting an additional profit margin of 10-12 per cent in the current year 2023.
On January 13, 2023, the stock closed 8.85 per cent up at Rs 22.60 apiece. Earlier, the stock had touched a new 52-week high of Rs 25.60 on December 22, 2022.
The stock has given multibagger returns of over 136 per cent in just 6 months and over 69 per cent in 1 year. The scrip has given a whopping 149 per cent returns from its 52-week low of Rs 9.05.
Keep a close eye on this multibagger stock.