Mukul Agrawal gains Rs 1,35,00,000 from this multibagger stock with robust order book worth Rs 16,447 crore; Company reports stellar quarterly results (Q2FY24)!
The company's shares have a PE of 10.8x whereas as the industry PE is 24x.
Indian stock markets closed higher on Monday, with the BSE Sensex and NSE Nifty-50 indices both gaining over 0.7 per cent.
Along with the market in green, one mutibagger civil constrcution stock gained 6.75 points or 1.65 per cent to Rs 414.75 per share, from its previous closing of Rs 408. The stock traded at an intraday high of Rs 416.75 and an intraday low of Rs 408.5.
Before we reveal the stock name, let's take a look at how the ace investor Mukul Agrawal made Rs 1,35,00,000 from this construction stock. Here are the details:
Mukul Agrawal owns 20,00,000 shares of a company or 2.64 per cent stake. As of Thursday, November 02, 2023, the stock was trading up by 6.75 per share from its previous closing on the BSE. This means that he made Rs 1,35,00,000 from this multibagger stock in just 1 day (20,00,000 shares x Rs 6.75 per share).
According to the Quarterly Results, the net sales increased by 9.02 per cent to Rs 1,104.18 crore, operating profit increased by 6.33 to Rs 165.11 crore and net profit increased by 8.74 per cent to Rs 73.44 crore in Q2FY24 compared to Q2FY23. As of September 30, 2023, the company has Rs 16,447 crore worth of projects in its order book, forming 4x of FY23 revenue.
According to the half-yearly results, the net sales increased by 11.41 per cent to Rs 2,235.4 crore and net profit increased by 13 per cent to Rs 146.77 crore in H1FY24 compared to H1FY23.
The company has a market capitalization of Rs 3,139 crore with a stock price CAGR of 57 per cent over the past three years. The company's shares have a PE of 10.8x whereas as the industry PE is 24x.
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The stock that is causing all the excitement is J. Kumar Infraprojects Ltd. It is a multibagger stock, which means that its price has increased many times over a period of time.
J Kumar Infraprojects Limited is engaged in the business of execution of contracts of various infrastructure projects including Transportation Engineering, Irrigation Projects, Civil Construction and Piling Work etc. The stock is up by 60 per cent in just 6 months whereas BSE Sensex Index is up by 4.44 per cent. The stock has been a multibagger over the past 3 years, with a return of 300 per cent.
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Disclaimer: The article is for informational purposes only and not investment advice.