Only buyers: Shares of this multibagger company rallied post encouraging news! Do you own it?
It delivered stellar returns of 105 per cent in just one year!
Bulls ruled Dalal Street as the Indian domestic indices started Tuesday’s session with a roar, reflecting strong global cues. With 12 sectoral indices surging more than 2 per cent each, all the sectors were trading higher. One of the sectors that gained the most today was BSE Capital Goods.
Over a year, the benchmark indices i.e. BSE Sensex and Nifty 50 both fell by 2-3 per cent. While BSE Teck and BSE Realty experienced over 15 per cent steep losses, BSE Capital Goods sector attracted investors by outperforming markets and growing by about 20 per cent in just one year!
As soon as Kirloskar Electric Company announced that an agreement had been made to sell the company's immovable property in Karnataka for a consideration totalling Rs 95.11 crore, its shares got locked in the upper circuit after a long time. Recently, the board re-appointed Anand Balaramacharya Hunnur to serve as the company's Managing Director (MD).
On an intraday basis on Tuesday, the shares of Kirloskar Electric Company soared to Rs 40.60 per share on BSE after being locked in the 5 per cent upper circuit and also, witnessed a surge in the volume by more than 5 times. It delivered stellar returns of 105 per cent in just one year!
With the former MD returning and the capital goods market continuing to be robust, this company might witness significant growth in the near future.
Keep a close eye on this scrip for the upcoming sessions!