Multibagger in just 1 year: Shares of this company were locked in upper circuits as it received projects worth Rs 1,225 crore!

The stock gave multibagger returns of 135.58 per cent in just 1 year whereas BSE Small-cap Index is only up by 5.39 per cent.

On Friday, one of the Top Gainers on BSE, shares of WPIL Ltd surged 10 per cent upper circuit to Rs 2,038.85 per share from its previous closing of Rs 1,853.50. The stock also traded at a fresh new 52-week high of Rs 2,038.85 per share.   

WPIL informed the exchange (BSE) that the company has received 4 letters of acceptance (LOA) from Madhya Pradesh Jal Nigam Maryadit for the execution of Turnkey Projects including engineering, procurement, construction, testing commissioning and 10 years of operation & maintenance of Bebus Sunar 2, Kutne Rajnagar, Lower Narmada and Mann Dam multi village schemes for a total value of Rs 1,225 crore to be completed in 24 months period. This was the main reason for the increase in stock price.  

WPIL Ltd manufactures solid handling pumps, stock pumps, horizontal split casing centrifugal pumps, vertical submersible pumps and vertical submersible motors. Today, shares of the company saw a spurt in volume by more than 9.42 times on BSE.   

WPIL has a market cap of Rs 1,991.36 crore. The company reported excellent numbers in both quarterly and annual financial statements. In Q3FY23, net sales skyrocketed 105.26 per cent and net profit skyrocketed 460 per cent over Q3FY22.   

The stock gave multibagger returns of 135.58 per cent in just 1 year whereas BSE Small-Cap Index is only up by 5.39 per cent. Watch out for this capital goods stock for upcoming trading sessions.