Heavy buying: Back-to-back upper circuit in this micro-cap multibagger stock; hits fresh 52-week high!

Shares of the company have gained about 90 per cent in the last six months.

Shares of Jasch Industries Limited were locked in the upper circuit on Thursday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. On Thursday, the stock also made a fresh 52-week high of Rs 332.35. In the last six months, the stock has gained about 90 per cent.

Jasch Industries Limited (JIL) is demerging its industrial gauges business into a new subsidiary, Jasch Gauging Technologies Limited (JGTL). The demerger is effective April 1, 2022. JIL shareholders will receive 2 JGTL shares for every 5 JIL shares they hold. The record date for the demerger is October 6, 2023. JGTL shares will be frozen until they are listed on the stock exchange.

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The company posted robust Quarterly Results. The revenue of the company for Q1FY24 stood at Rs 55.76 crore which declined by 9.56 per cent YoY. The operating profit of the company stood at Rs 10.44 crore, while the PAT of the company stood at Rs 6.93 crore, which was 5.33 crore in last year's same quarter. Jasch Industries Limited has also delivered multibagger returns of over 120 per cent in one year holding period.

Jasch Industries is engaged in the manufacturing of coated textile & synthetic leather and electronic thickness gauges. The company's world-class products for online inspection are produced after exhaustive research at the Sonipat facility.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.