Heavy buying: Back-to-back upper circuit in this multibagger stock; reports a 3,800 per cent jump in net profit!

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

Shares of Shakti Pumps (India) 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. In the last six months, the stock has gained about 90 per cent.

The company posted brilliant Quarterly Results. The revenue of the company for Q4FY24 stood at Rs 609.28 crore which grew by 233.56 per cent YoY. The operating profit of the company stood at Rs 131.59 crore, while the PAT of the company stood at Rs 89.66 crore, representing an impressive growth of 3,890.08 per cent YoY.

Shares of Shakti Pumps (India) Limited have also delivered multibagger returns to their shareholders in the last one year. During this period, the company’s share price jumped from Rs443.65 on May 03, 2023, to Rs 2080.40 on May 02, 2024, an increase of about 340 per cent in a one-year holding period.

Shakti Pumps (India) Limited is primarily engaged in the manufacturing of pumps and motors of various kinds. It also offers advanced water pumping solutions to a wide range of applications such as irrigation, horticulture, domestic water supply, commercial and industrial applications. Its brand "Shakti" is well-received in the domestic and international markets.

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.