Stock below Rs 100: Only buyers were seen in this multibagger stock which gave a return of 2254 per cent!

The stock has a PE multiple of 3.49 whereas the sectoral PE multiple is 33.4 and an ROE of 208 per cent.

One of the Top Gainers on the BSE today, shares of Hemang Resources Ltd were locked at a 10 per cent upper circuit at Rs 73.45 per share. On a year-to-date basis, the stock gave multibagger returns of 2254.17 per cent.

In quarterly and annual financial statements, the corporation presented excellent figures. According to annual reports, the company reported a net loss of Rs 5 crore in FY22, it skyrocketed to a net profit of Rs 20 crore or 500 per cent in FY23.

Hemang Resources Limited operates in the coal and real estate sectors. The coal division includes trading imported & indigenous coal and selling to various Industries in India. The real estate division deals with high-quality land in prominent locations. Today, the shares of the company saw a spurt in volume by more than 6.67 times on BSE. 

The stock has a PE multiple of 3.49 whereas the sectoral PE multiple is 33.4 and an ROE of 208 per cent. This all points to effective managerial performance which explains why this stock saw only buyers this year. The compound annual gropewth rate (CAGR) of stock is 2055 per cent in just 1 year. Investors should keep this stock on their watchlist.