This multibagger has piqued the interest of investors by delivering over 1,000 per cent returns year-to-date; do you own it?
Investors' attention has been drawn to the stock as a result of back-to-back upper circuits.
Indian benchmark indices opened lower on Friday, reflecting the weakness in global indices as most of them fell ahead of US payroll data. The majority of sectors were trading down, with the power, utilities, and auto sectors bearing the brunt of the damage.
BSE Capital Goods sector recovered from the session's early losses to finish slightly higher. Despite the weak trading session, a stock from the capital goods sector that was known for hitting back-to-back upper circuits did so today after many sessions.
RMC Switchgears specializes in switchgear engineering and ECI contracts for the power distribution and transmission sectors. Investors' attention has been drawn to the stock as a result of back-to-back upper circuits. It experienced a correction and dropped more than 11 per cent over the past month.
The stock has skyrocketed 1,049 per cent year-to-date, implying that an initial investment of Rs 1 lakh in the company at the beginning of the year is now worth more than Rs 11.49 lakh! It has gained over 765 per cent in the last six months!
A favourable environment for the capital goods industry is being enabled by tailwinds like the government's emphasis on infrastructure, the real estate sector's revival and healthy demand visibility across numerous end-user industries.
Keep a close eye on this scrip for the upcoming sessions!