Multibagger in just 1 year: This wires manufacturing stock soar over 6 per cent to make a 52-week high!
The Sensex Index touched an all-time high at a level of 63,601.71.
On Thursday, the benchmark indices ended the trading session in red. BSE Sensex Index is down by 0.45 per cent at a level of 63,238.89 and the NSE Nifty-50 Index is down by 0.45 per cent at a level of 18,771.25. The Sensex Index touched an all-time high at a level of 63,601.71.
Shares of KEI Industries Ltd zoomed 4.77 per cent to Rs 2,351.50 per share with an intraday high of Rs 2,390 and an intraday low of Rs 2,242. The shares of the company also traded at a new 52-week high of Rs 2,390 per share.
The company has been allotted Industrial Land, admeasuring 2,88,106 square meters, at Sanand-II Industrial Estate, Gujarat, on long term lease for 99 years, by Gujarat Industrial Development Corporation (GIDC).
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KEI Industries Limited manufactures cables and stainless-steel wires for building and construction, defence, telecommunications, and other industries. The shares of the company saw a spurt in volume by more than 4.61 times on BSE.
According to the financials, KEI Industries has a market cap of over Rs 21,000 crore. The net sales increased by 9.10 per cent to Rs 1,955 crore and net profit increased by 19 per cent to Rs 138 crore in Q4FY23 over Q4FY22. The net sales increased by 20.70 per cent to Rs 6,921 crore and net profit increased by 26.86 per cent to Rs 477 crore in FY23 over FY22.
The shares have a ROE of 22 per cent and a ROCE of 26 per cent. The stock gave multibagger returns of 107 per cent in just 1 year and over 550 per cent in 3 years. Investors should keep an eye on this mid-cap stock.