Rs 47 crore project: Shares of this multibagger micro-cap company surge over 6 per cent as it announced business expansion!
The stock is up by 85 per cent in 1 year and generated multibagger returns of 290 per cent in just 2 years.
On Friday, one of the Top Gainers on BSE, shares of Piccadily Agro Industries Ltd surged 6.33 per cent to a new 52-week high of Rs 74.20 per share. At 03:30 pm, shares of the company ended in the green, up 5.91 per cent to Rs 73.88 per share.
The sudden rise in the stock price is due to the ethanol project which is under implementation. Details below:
1) Existing capacity - The Existing Capacity is 9OKLPD.
2) Existing capacity utilization - The Existing capacity utilization is 100%.
3) Proposed capacity - 150 KLPD
4) Period within which the proposed capacity is to be added: July 31, 2023.
5) Investment required: Rs 47 crore.
6) Mode of financing: Term loan & internal accruals.
7) Rationale: The project is in line with our strategic plan to increase the manufacturing of ethanol.
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Piccadily Agro Industries Limited manufacture sugar and distillery products along with its 3 associate companies. The company has a market cap of Rs 696.98 crore with a 5-year CAGR of 46 per cent. According to the financials, the company reported positive numbers in its Quarterly Results and annual results.
The stock is up by 85 per cent in 1 year and generated multibagger returns of 290 per cent in just 2 years. Investors should keep an eye on this micro-cap stock under the radar.