This Smallcap stock has given an astounding 102 per cent returns in just 6 months!
The top clients of company are Maruti, Hero Motocorp, Mahindra and Mahindra, Audi, Jaguar, KIA and MG Motors.
Shares of Lumax Industries Ltd made a new 52-week high of Rs 1833.85 as the stock hit upper circuit on Friday. The stock was one of the Top Gainers on BSE Smallcap as it experienced heavy buying pressure from the investors. The buying was seen due to some positive plans announced by the company.
Shares of Lumax Industries Ltd were trading higher due to positive results posted by the company and capex plans announced by the company, as management expects demand to go up. The company witnessed 37 per cent rise in sales in Q2FY23 compared to Q2FY22, whereas net profit grew by 44 per cent during the same period. The company has approved a plan to set up a new manufacturing unit in Pune to meet the demand for the orders received from OEMs. The stock has given an astounding 102 per cent returns in a span of 6 months.
Lumax Industries Ltd was founded in 1945 and is a part of DK Jain Group. It is one of the leading players in the automobile lightning in auto sector, with a staggering 60 per cent market share. It has 29 manufacturing units spread across 7 states in India. The top clients of company are Maruti, Hero Motocorp, Mahindra and Mahindra, Audi, Jaguar, KIA and MG Motors. The company has low debt which makes it more stable.
Keep an eye on this stock in the coming sessions.