Multibagger in just 6 months & promoters increase stake; Stock hit upper circuits & 52-week highs as company bags new order from a PSU company & announce stock split!

The stock gave multibagger returns of 200 per cent in 1 year and a whopping 1,440 per cent in 3 years.

On Friday, shares of Trishakti Industries Ltd hit a 2 per cent upper circuit to Rs 128.55 per share from its previous closing of Rs 126.03. The stock also made a new 52-week high of Rs 128.55 per share. In the recent trading sessions, the stock has been hitting back-to-back upper circuits and 52-week highs.

The sudden rise in the stock price was due to the company announcing a strategic joint venture with PT Tubular Services Indonesian to establish a seamless pipe plant for an estimated value of Rs 600 crore. This collaboration aims to expand operations, introduce new products, and cater to the growing demand for high-quality pipes across various industries. The state-of-the-art facility will leverage the combined expertise and resources of both companies to meet stringent quality standards and production requirements.

This partnership is expected to create significant value for shareholders, contribute to national economic growth, strengthen the market position, and enhance global competitiveness. All regulatory approvals will be obtained before project commencement, with regular updates provided on progress and material developments.

Additionally, the company informed that it has successfully acted as the Indian marketing service provider for an Indonesian manufacturing company that has been awarded a significant contract from a PSU Company for the supply of oil & gas exploration-related products. The Company shall receive a significant revenue upon successful execution of the said contract.

Furthermore, the Board of Directors of the company have approved a stock split of equity shares i.e., division of shares from Rs 10 to Rs 2. The company has not fixed the record date for the stock split yet.

Trishakti Industries Limited provides infrastructure and oil & gas exploration services. The company engages in multiple business sectors including logistics and infrastructure, oil and gas, food-related items, and agency services. Trishakti Industries serves customers worldwide. The company has a market cap of Rs 38.2 crore with a 3-year stock price CAGR of 150 per cent. In its Quarterly Results and annual results, the company reported positive numbers.

As of September 2023, the promoters have increased their stake from 33.46 per cent to 36.69 per cent. The stock gave multibagger returns of 200 per cent in 1 year and a whopping 1,440 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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