Multibagger from its 52-week low: Low PE & debt-free NBFC stock hit 10 per cent upper circuit on August 07; do you own it?
The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 98.15 per share.
Industrial Investment Trust Ltd (IITL) is a non-banking financial holding company established in 1933. IITL primarily focuses on investment activities. Its portfolio includes equity shares, mutual fund units, fixed deposits, government securities, and inter-corporate deposits and loans, primarily within its group of companies. The company's investment decisions are managed by a dedicated committee. Beyond traditional investments, IITL also engages in private equity, margin funding, and real estate ownership.
Today, shares of Industrial Investment Trust Ltd hit a 10 per cent upper circuit to Rs 254.20 per share from its previous closing of Rs 231.10 per share. The stock’s 52-week high is Rs 284.95 and its 52-week low is Rs 98.15. The shares of the company saw a spurt in volume by more than 1.20 times on BSE.
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The company previously announced plans to sell a significant stake (41.72 per cent) to new investors (Acquirers). This deal required regulatory approval from the Reserve Bank of India (RBI) and involved a public offer of shares. However, the RBI has rejected the application due to concerns about the financial structure of the resulting group. Consequently, the Acquirers have terminated the share purchase agreement, leading to the cancellation of the public share offer.
The company has a market cap of over Rs 700 crore and as of March 2024, the company is debt-free. The shares of the company have a PE of 9.4x whereas the industry PE is 24x. The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 98.15 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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