Multibagger alert! You cant miss out on this small-cap rubber stock that tripled shareholders money in just three years
From Rs 200 to Rs 620, it has been a proven multibagger, and has tripled shareholders’ money in less than three years.
While India pips England to become the fifth-largest economy, it has also become one of the fastest-growing economies in the world. With this, it has opened door to many investment opportunities for foreign investors, who have been pumping money into India’s growth story. There’s no doubt that the Small-Cap and micro-cap stocks are trending lately. One such multibagger-pick Multi-bagger small-cap stock from the rubber industry that witnessed strong price volume breakout buying interest is Apcotex Industries as it soared over 6 per cent on NSE during Friday’s trading session.
With a market capitalisation of about Rs 3,100 crore, Apcotex Industries has been a proven multi-bagger, as it soared over 200 per cent in the last three years. From Rs 200 to Rs 620, it has tripled shareholders’ money in less than three years.
In its recent quarterly result, the company posted stellar earnings as its net sales grew 65 per cent YoY to Rs 306.50 crore in June 2022 while net profit jumped over 53 per cent to Rs 33.56 crore. Meanwhile, the stock also offers a dividend yield of 0.83 per cent.
One of the leading producers of synthetic emulsion polymers in India, Apcotex Industries started as a division of Asian Paints in the early 1980s and now has been established as a strong player in the rubber industry. It produces a range of latexes for various residential and industrial sectors like automotive components, heavy engineering, paints, textile, etc.
The Apcotex shares trade at the PE of 28.37 as against the sector PE of 29.32, thus making it undervalued and a low PE stock. The stock is technically strong and has broken out from its eight-day consolidation. FIIs have been increasing their stake in this stock over the past four quarters.
Long-term investors can include this stock on their watchlist!