Promoters bought 2,28,13,340 shares in Q1: Multibagger penny stock under Rs 70 jumps over 5 per cent on September 23
The stock gave multibagger returns of 715 per cent in 5 years and a whopping 1,200 per cent in a decade.
Today, shares of BCL Industries Ltd jumped over 5 per cent to an intraday high of Rs 68.39 per share from its previous closing of Rs 64.77. The stock’s 52-week high is Rs 86.25 while its 52-week low is Rs 45.70. The company has not made any significant announcements of late. Hence, the rally in the share price could be driven purely by the market forces.
BCL Industries Limited, a leading agro-processing company in India, was founded in 1976. With a diverse range of businesses and strong vertical integration, BCL Industries Limited operates in edible oils, rice milling, grain-based distilleries, and real estate across Punjab and West Bengal. As a part of the esteemed Mittal Group, the company boasts a market capitalization of over Rs 2,000 crore.
BCL Industries Limited's strategic expansion has yielded impressive results. The new plant at the Bathinda unit has doubled its ethanol production capacity, while another new plant in Kharagpur, coupled with the expansion of a subsidiary, has boosted the total capacity to an impressive 700 KLPD. This robust growth is perfectly aligned with the surging demand for ethanol, as evidenced by a full order book from Oil Marketing Companies extending until November 2024.
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According to Quarterly Results, the net sales increased by 47.66 per cent to Rs 658.51 crore and net profit increased by 24.1 per cent to Rs 24.51 crore in Q1FY25 compared to Q1FY24. In its annual results, the net sales increased by 21 per cent to Rs 2,200.62 crore in FY24 compared to Rs 1,819.92 crore in FY23 while the net profit increased by 49 per cent to Rs 95.92 crore in FY24 compared to Rs 64.36 crore in FY23.
In Q1FY25, Promoters of the company bought 2,28,13,340 shares and increased their stake to 59.47 per cent compared to 56.08 per cent in March 2024. Additionally, an ace investor, Sangeetha S own a 1.13 per cent stake in the company as of June 2024. The stock gave multibagger returns of 715 per cent in 5 years and a whopping 1,200 per cent in a decade.
Disclaimer: The article is for informational purposes only and not investment advice.