Vijay Kedia's portfolio multibagger stock hit 10 per cent low circuit as the company reports a net loss of Rs 7 crore in H1FY24!
The stock gave multibagger returns of 250 per cent in 1 year and a whopping 1,250 per cent returns in 3 years.
The Indian benchmark indices ended the day in red with the BSE Sensex Index down 0.22 per cent and NSE Nifty-50 Index down by 0.25 per cent.
Along with the market in red, this multibagger robotics manufacturing stock hit 10 per cent lower circuit to Rs 576.05 per share. The stock’s 52-week high is Rs 864 and its 52-week low is Rs 141.6. At the closing bell, shares of the company were trading at Rs 607.25 per share, down 5.12 per cent with a spurt in volume by more than 9.28 times on BSE.
The sudden plunge in the stock was mainly due to half-yearly results (H1FY24) announced by the company for the fiscal year 2024. Here are the details:
According to the half-yearly results, the net sales increased by 136 per cent to Rs 43 crore in H1FY24 compared to H1FY23. The company reported an operating loss of Rs 5 crore and a net loss of Rs 7 crore in H1FY24. In its annual results, the net sales increased by 38.27 per cent to Rs 112 crore in FY23 compared to FY22. The company's net profit remained unchanged in FY23 from FY22.
On January 29, 2021, an ace investor Vijay Kedia acquired 1,37,600 shares of a manufacturing company at a price of Rs 76.98 per share. This company falls under the SME segment with a lot size of 1,600 shares, resulting in a total investment of Rs 1,05,92,448. His investment in the company has been extremely successful, generating a return of 688.9 per cent, which is equivalent to a gain of Rs 7,29,65,112, as of today's closing price of Rs 607.25 per share.
Order Book Update
DSIJ’s 'Multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
The multibagger stock that you are interested in is Affordable Robotic & Automation Ltd. The stock gave multibagger returns of 250 per cent in 1 year and a whopping 1,250 per cent returns in 3 years.
Do you own this stock in your portfolio? Do let us know in the comment section below
Disclaimer: The article is for informational purposes only and not investment advice.