Aditya Kumar Halwasiya allocated 25,00,000 shares and FIIs bought 1,15,59,270 shares of this multibagger penny stock at Rs 81.35; do you own it?

The stock gave multibagger returns of 720 per cent in 3 years and a whopping 5,900 per cent in a decade.

Today, the stock market was trading flattish with the BSE Sensex Index up 0.05 per cent and the NSE Nifty-50 Index down 0.02 per cent. Though the market was trading flattish, shares of BCL Industries Ltd gained 4.90 per cent to Rs 81.35 per share from its previous closing of Rs 77.55. The stock’s 52-week high is Rs 86.30 while its 52-week low is Rs 37.97.

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 over Rs 2,100 crore.  

The company had a strong financial performance in both Q3FY24 and 9MFY24. In Q3FY24, quarterly income increased by 28.7 per cent to Rs 646.24 crore, and net profit jumped by 66.7 per cent to Rs 32.78 crore compared to Q2FY24. On a year-to-date basis, net sales rose 16.4 per cent to Rs 1,586.97 crore, and net profit grew by an impressive 81.6 per cent to Rs 72.20 crore.

The board approved the allotment of 26,70,000 fully paid-up equity shares with a face value of Rs 1 each, priced at Rs 36 per share (including Rs 35 premium). This allotment results from the conversion of 2,67,000 previously issued warrants at Rs 360 each, with adjustments made following the stock split of the company's equity shares (from Rs 10 to Rs 1 each). The conversion generated Rs. 7,20,90,000 from warrant holders exercising their right to acquire equity shares at Rs 270 per warrant (75 per cent of the issue price). In the allotment, Aditya Kumar Halwasiya was allocated 25,00,000 shares and Lanka Nagamani & Lanka V N Muralidhar were allocated 1,70,000 shares.

Aditya Kumar Halwasiya, a trending investor, made significant market moves. He acquired a 13.06 per cent stake in Tourism Finance Corporation of India Ltd, purchased Rs 986 crore worth of shares in Cupid Ltd. (28.69 per cent), and holds a 1.77 per cent stake in Apollo Micro Systems Ltd. While his current portfolio is performing exceptionally well, it's uncertain if this prosperous market performance will continue for him and his chosen stocks!

Ace investor Sangeetha S and foreign institutional investors (FIIs) made significant purchases of this company's shares in the December quarter (Q3FY24). Sangeetha S acquired 33,36,900 shares, while FIIs bought a whopping 1,15,59,270 shares shares. This buying spree has resulted in promoters and FIIs now holding a combined 62.8 per cent stake in the company, leaving the public ownership at 37.21 per cent.

Earlier, the company and its subsidiary Svaksha Distillery Limited secured ethanol supply contracts worth Rs 561 crore from leading Oil Marketing Companies (OMCs) - BPCL, IOCL, HPCL, and RIL. The total volume committed amounts to a staggering 8.20 crore litres. The stock gave multibagger returns of 720 per cent in 3 years and a whopping 5,900 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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