Superior Returns than Suzlon: Mukul Agrawal-Backed Multibagger Stock Outperforms Suzlon; Promoter Holding at 74.2%, India's No.1 Stock in its Segment
After Mukul Mahavir Agrawal's name appeared in the shareholding pattern, the stock surged and significantly outperforming both industry and sector returns
On Tuesday, the Nifty50 index extended its losing streak for the third consecutive day, closing below the 24,000 mark. On the daily chart, the index formed a bearish candlestick pattern with an upper shadow, indicating that market participants were adopting a sell-on-rise strategy. Despite the overall market downturn, certain stocks managed to outperform the frontline indices. This article focuses on one such stock that ace investor Mukul Mahavir Agrawal has recently added to his portfolio.
The stock in question is Lux Industries, which hit a fresh 52-week high of Rs 2,493 on Tuesday, eventually settling at Rs 2,363.15, up by 4.08 per cent on the NSE. In 2024, the stock has risen by 82 per cent, and over the last five years, it has delivered multibagger returns of 128.89 per cent. After Mukul Mahavir Agrawal's name appeared in the shareholding pattern for the quarter ended June 2024, the stock surged by 56.25 per cent, significantly outperforming both industry and sector returns, as well as the frontline indices.
Comparing the performance of Lux Industries to that of renewable energy stock Suzlon Energy in 2024, Lux Industries, held by Mukul Agrawal, has outperformed Suzlon Energy. Lux Industries is up by 82 per cent in 2024, while Suzlon Energy has gained 75 per cent.
Lux Industries is India’s leading innerwear company in volume terms, holding a 15 per cent share of the organized men’s innerwear market. Promoters hold 74.19 per cent of the stock, and Life Insurance Corporation of India (LIC) holds a 4.74 per cent stake. Mukul Agrawal recently added a 1.33 per cent stake, as reflected in the shareholding pattern for the quarter ended June 2024.
Disclaimer: The article is for informational purposes only and not investment advice