Heavy buying: Back-to-back upper circuit in this Reliance backed multibagger stock; gains about 230 per cent!

Shares of the company gained more than 100 per cent in the last six months.

Shares of Lotus Chocolate Company Limited were locked in the upper circuit on Friday, 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. The stock has gained more than 100 per cent in the last six months.

In the recent quarter, Q1FY25, the net sales of the company increased by 337.39 per cent at Rs 141.31 crore for Q1FY25 as compared to Rs 32.31 crore for the corresponding quarter previous year. The company reported a 4,676.65 per cent increase in its net profit at Rs 9.41 crore for the quarter ended June 30, 2024, as compared to Rs 0.20 crore for the same quarter in the previous year.

Shares of Lotus Chocolate Company Limited have also delivered multibagger returns to their shareholders in the last one year. During this period, the company’s share price jumped from Rs 233.75 on July 24, 2023, to Rs 772.50 on July 19, 2024, an increase of about 230 per cent in a one-year holding period.

Lotus Chocolates Limited (LCL) is engaged in the manufacturing of Chocolates, Cocoa Products and other similar products. LCL is in the business of sourcing and processing cocoa beans to manufacture chocolates, cocoa products and cocoa derivatives. Its products are supplied all over the world to chocolate makers and chocolate users, from local bakeries to multinational companies, etc. Reliance Consumer Products Ltd (a wholly owned subsidiary of Reliance Retail Ventures Ltd) acquired a 51 per cent stake and took control of the company from May 24th, 2023.

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.