Mukul Agarwal gains Rs 8,70,00,000 from his favourite small-cap multibagger in just one day; stock hits fresh 52-week high!

The stock has jumped nearly 167 per cent in just last one year as a result, the stock has turned out to be a multibagger

In a remarkable display of market prowess, the global positive undertones continued to fuel the winning streak of domestic markets, extending the jubilation into a second consecutive session. The Nifty index surged ahead, notching a significant gain of 121 points, or 0.62 per cent, reaching the impressive milestone of 19,811.

The backdrop to this exuberance was painted by favorable international influences, which breathed life into our local markets. The moderation of US bond yields acted as a catalyst, further elevating market sentiment. With the international stage grappling with the Israel-Palestine conflict, it's fascinating how quickly the world's focus swiveled back to the overarching specter of the global macroeconomy, as oil prices remained relatively stable.

Intriguingly, what set this session apart was the exceptional performance of the Nifty Small-Cap index, which outshone even the frontline indices. Amid this triumphant atmosphere, one stock took center stage, and it was none other than Pearl Global Industries (PGIL). PGIL astoundingly ascended by nearly 12 per cent, surging to establish a fresh 52-week high at Rs 1,192 on the NSE.

Pearl Global Industries (PGIL), including its subsidiaries, a venture established in the annals of 1989 by the visionary Mr. Deepak Seth, specializes in the art of crafting readymade garments across an array of categories, spanning knits, wovens, denims, non-denims, and outerwear. Their expansive repertoire caters to men, women, and children alike. Operating out of multiple locations, including India (with manufacturing bases in Gurugram, Chennai, and Bengaluru), Bangladesh, Vietnam, and Indonesia, the company boasts a staggering total capacity to manufacture a mind-boggling 80 million pieces of garments per annum. Notably, PGIL has earned the esteemed recognition of being an approved vendor for an array of international heavyweights such as GAP, Banana Republic, PVH Corp., Kohl's, Macy's, Primark, Target, Next, and a host of other illustrious names.

Stepping into Q1FY24, PGIL made headlines by recording its highest-ever revenue since its inception. This feat was attributed to a combination of higher unit realization, improved capacity utilization, and the unwavering loyalty of their existing customer base. Their EBITDA margins, a pivotal metric in the corporate world, saw a notable improvement, surging by 140 basis points to an impressive 9.3 per cent in Q1FY24, up from 7.9 per cent in Q1FY23. This remarkable leap was primarily fueled by an improved product mix and a consistent trend of burgeoning profitability in their overseas operations.

But here's the pièce de résistance – enter the small-cap virtuoso, Mukul Mahavir Agarwal, who commands a 3.46 per cent stake in PGIL. This translates to a staggering 750,000 shares in the company. On a single day, which transpired to be Wednesday, the stock experienced a significant upswing, surging by a remarkable Rs 116. When we crunch the numbers, the result is nothing short of jaw-dropping – Mukul Mahavir Agarwal managed to rake in an astonishing Rs 8,70,00,000 in just one trading day. A testament to the spectacular potential and power of the stock market. The stock has jumped nearly 167 per cent in just last one year as a result, the stock has turned out to be a multibagger.

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