Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; net profit jumps by 300 per cent!

Shares of the company have gained about 200 per cent in the last six months.

Shares of Birla Cable Limited were locked in the upper circuit on Wednesday, 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 over 200 per cent. On Wednesday, the stock also made a fresh 52-week high at Rs 403.05.

Birla Cable Limited is a premier company in the field of Telecommunication Cables, which offers one of the widest portfolios of Copper and Fibre Optic cables under its umbrella. A division under India’s one of the most trusted M. P. Birla Group, Birla Cable Limited has come a long way to establish itself as one of the most admirable players in the Global arena among users of Telecom cables due to its superior product quality, stringent quality control systems and flawless performance across all the segments of Telecom users.

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The company posted strong Quarterly Results. The revenue of the company for Q1FY24 stood at Rs 174.10 crore which grew by 17.75 per cent YoY. The operating profit of the company stood at Rs 21.88 crore, while the PAT of the company stood at Rs 11.71 crore, representing a growth of 306.49 per cent YoY.

Shares of Birla Cable Limited have also delivered multibagger returns of about 170 per cent in one year holding period.

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.