Heavy buying: Back-to-back upper circuit in this multibagger SME stock; gains over 200 per cent!
Shares of the company gained more than 40 per cent in the last one month.
Shares of KP Green Engineering Limited were locked in the upper circuit on Thursday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last two days. Hence, the stock is locked in the upper circuit. In the last one month, the stock has gained more than 40 per cent.
KP Green Engineering Limited manufactures fabricated and hot-dip galvanized steel products. The company offers custom fabrication and hot-dip galvanized steel products, including lattice towers, substation structures, solar module mounts, cable trays, beam crash barriers, etc. The company plans to set up a new facility for Rs 174 crore in Gujarat. The new facility will have a capacity of 2,94,000 MT, a substantial increase from its current capacity of 53,000 MT.
The company posted strong Half-yearly results. The revenue of the company for H2FY24 stood at Rs 245.12 crore which increased by 365.65 per cent YoY. The operating profit of the company stood at Rs 36.17 crore, while the PAT of the company stood at Rs 24.20 crore, from a profit of Rs 5.03 crore last year same period.
The shares of KP Green Engineering Limited have also delivered multibagger returns to its shareholders in less than six months. During this period, the company's share price surged from Rs 210.00 on March 22, 2024, to Rs 682.65 on May 16, 2024, representing an increase of about 200 per cent in less than six months holding period.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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