Multibagger stock below Rs 10: Investors should check this stock, which was locked in the upper circuit on January 03
The stock gave multibagger returns of 118.18 per cent in just 1 year.
One of the Top Gainers on the BSE today, shares of KCL Infra Projects Ltd surged 10 per cent and reached an upper price bank of Rs 3.12 per share. The company's stock price has recently increased significantly and made back-to-back upper circuits. The stock gave multibagger returns of 118.18 per cent in just 1 year.
The company provided fantastic numbers in its quarterly and annual financial statements. Annual financial statements state that whereas the net profit in FY21 was only 0.10 crore, it exploded to 0.48 crore or 380 percent more in FY22. The recent substantial acquisition of shares and takeover by "Headway Engineering Private Limited" has resulted in some new buying today.
KCL Infra Projects Ltd was started in 1995 and is involved in the construction and development of properties and infrastructure. In addition, the company offers advisory services.
In the fiscal year 2022-23, the company also announced a rights issue of 23,69,79,000 equity shares at Rs 2 per share, amounting to Rs 47.40 crore. This smallcap stock has a market cap of Rs 82.15 crore with a 52-week high of Rs 4.47 and a 52-week low of Rs 0.81. Investors should keep an eye on this penny stock.