DSIJ Mindshare

Recently, HDFC Mutual Fund bought 5,00,066 shares via the open market and the company is backed by Gail (India) Ltd and Bharat Petroleum Corporation Ltd. 

The stock is down by 37 per cent from its 52-week high of Rs 570.60 per share.

From Rs 2.66 per share (52-week low) to Rs 5.37 per share, the stock gave multibagger returns of over 100 per cent.

The venture will establish a manufacturing facility to produce gas meters. It will assemble and manufacture SKD and FM gas meters, and sell, distribute, and supply gas meters, HHU, and DCU. It will also assemble, manufacture, sell, distribute, and supply other meters, including water and utility meters.

The company has been maintaining a healthy dividend payout of 23.9 per cent with a dividend yield of 2.67 per cent. The stock has an ROE of 21 per cent and a ROCE of 27 per cent.