Heavy buying: Back-to-back upper circuit in this railway electrical multibagger stock; gains over 250 per cent!
Shares of the company have gained more than 20 per cent in the last six months.
Shares of Concord Control Systems Limited were locked in the upper circuit on Tuesday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained more than 20 per cent.
The company posted robust Half Yearly Results. The revenue of the company for H2FY24 stood at Rs 35.07 crore which increased by 52.04 per cent YoY. The operating profit of the company stood at Rs 9.90 crore, while the PAT of the company stood at Rs 6.97 crore, which increased by 112.4 per cent YoY.
Concord Control Systems Limited has also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 294.10 on July 17, 2023, to Rs 1180.35 on July 16, 2024, an increase of more than 250 per cent in a one-year holding period.
Concord Control Systems Limited manufactures products required in railway coaches like: Inter-Vehicular Coupler, Emergency Lighting System, Brushless DC carriage fan, Exhaust fans, Cable Jackets, Bellows etc. and products required in electrification of coaches and broad-gauge network of Indian Railways like: Battery Charger 200 AH, Battery Charger 40 AH, Tensile Testing Machine. It is approved vendor by Research Design and Standards Organisation (“RDSO”) to manufacture and supply these products for the Indian Railways.
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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