Promoters bought 2,28,13,340 shares in Q1: Multibagger penny stock under Rs 60 gains 4.52 per cent; Board to announce quarterly results next week!
The stock gave multibagger returns of 725 per cent in 5 years and a whopping 1,675 per cent in a decade.
Today, shares of BCL Industries Ltd gained 4.52 per cent to an intraday high of Rs 58.31 per share from its previous closing of Rs 55.79. The stock’s 52-week high is Rs 86.25 while its 52-week low is Rs 44.44. The Board of Directors of the company will hold a meeting on August 13, 2024, at 4:00 PM IST to review the company's financial performance for the quarter ended June 30, 2024.
BCL Industries Limited is one of India’s largest agro-processing manufacturing companies with diverse businesses and vertical integrations. Established in 1976, BCL Industries Limited is engaged in edible oils, rice milling, grain-based distilleries and real estate. It is present in Punjab and West Bengal. BCL Industries Ltd Limited is a part of the Mittal group with a market cap of Rs 1,505 crore. The company's expansion is paying off. The Bathinda unit's new plant doubled its ethanol production capacity, and a new plant in Kharagpur along with a subsidiary's expansion boosted total capacity to 700 KLPD.
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According to Quarterly Results, the net sales increased by 34.3 per cent to Rs 613.65 crore in Q4FY24 compared to Rs 456.96 crore in Q4FY23. The company reported a net profit of Rs 23.71 crore in Q4FY24 compared to a net profit of Rs 24.60 crore in Q4FY23. In its annual results, the net sales increased by 20.1 per cent to Rs 2,200.62 crore in FY24 compared to Rs 1,819.92 crore in FY23 while the net profit increased by 49 per cent to Rs 95.92 crore in FY24 compared to Rs 64.36 crore in FY23.
In Q1FY25, Promoters of the company bought 2,28,13,340 shares and increased their stake to 59.47 per cent compared to 56.08 per cent in March 2024. Additionally, an ace investor, Sangeetha S own a 1.13 per cent stake in the company as of June 2024. The stock gave multibagger returns of 725 per cent in 5 years and a whopping 1,675 per cent in a decade. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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