Mukul Agarwal bought 25,00,000 shares & Dolly Khanna bought 17,98,140 shares of this multibagger small-cap stock; scrip hit upper circuit and 52-week high!
Mukul Agarwal gained Rs 1,46,25,000 and Dolly Khanna gained 1,05,19,119 in just 1 day from this multibagger small-cap stock in just 1 day.
On Monday, the benchmark indices ended the day in the red. BSE Sensex Index is down by 0.73 per cent at 65,512.39 and NSE Nifty-50 Index is down by 0.72 per cent at 19,512.35.
One of the reasons why the stock market is affected is because of the Israel-Palestine War. Although the market is down, this multibagger iron & steel stock is bucking the trend and trading in the green. Let us know why is this stock trending:
Two well-known investors, Mukul Agarwal and Dolly Khanna, bought shares in the company in the September quarter (Q2FY24), which contributed to the sudden rise in the stock price.
- Mukul Agarwal bought 25,00,000 shares or 1.40 per cent stake in the company.
- Dolly Khanna bought 17,98,140 shares or 1 per cent stake in the company.
Today, one of the Top Gainers on BSE, shares of the company hit 10 per cent upper circuit to Rs 168.45 per share from its previous closing of Rs 140.40. The stock also made a new 52-week high of Rs 168.45 per share. At the closing bell, shares of the company were trading in the green, up 5.85 points or 4.17 per cent to Rs 146.25 per share with a spurt in volume by more than 4.40 times on BSE.
Mukul Agarwal gained Rs 1,46,25,000 and Dolly Khanna gained 1,05,19,119 in just 1 day from this multibagger Small-Cap stock in just 1 day as of October 09, 2023 closing price.
Financials: The company has a market cap of Rs 2,620 crore with a 3-year stock price CAGR of 55 per cent. The shares of the company have a PE of 11.1x whereas the industry PE is 20.8x. The stock is trading at 0.80 times its book value of Rs 165 and the promoter holding has increased by 0.80 per cent over the last quarter. According to the Quarterly Results and annual results, the company reported amazing numbers. The stock is up by 95 per cent in 3 months and over 180 per cent in 6 months.
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The multibagger iron & steel stock name that is creating the excitement is PRAKASH INDUSTRIES LTD. The company is engaged in the business of manufacturing and sale of iron & steel products and generation of power.
Do you own Prakash Industries Ltd.’s stock in your portfolio? Do let us know in the comment section
Disclaimer: The article is for informational purposes only and not investment advice.
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