Multibagger stock update: This capital goods company delivered 844 per cent returns in just 2 years; do you own it?
Investors can definitely consider keeping this stock on their watchlist of multi-bagger stocks!
On Tuesday, the shares of CG Power hit an all-time high price of Rs 255.95 and gained up to 6.08 per cent on an intraday basis. This stock, from the capital goods sector, has been making investors extremely delighted by rewarding massive returns in a span of two years. CG Power & Industrial Solutions shares soared around 844 per cent in the last two years, climbing from Rs 25 to Rs 252.
CG Power & Industrial Solutions is a global enterprise providing end-to-end solutions to utilities, industries, and consumers for the management as well as application of efficient & sustainable electrical energy. Tube Investments India is the holding company of CG Power & Industrial Solutions. In December 2020, the stake of Tube Investments of India Ltd, which is a part of Murugappa Group, in CG Power & Industrial Solutions Ltd has increased to 58.58 per cent post allotment of shares on a preferential basis. The shares of CG Power have gained fast momentum after December 2020, continuing the positive streak since then.
In June 2022, the net sales of the company stood at Rs 1,665.24 crore in June 2022, zooming 58.59 per cent from Rs 1,050.04 crore in June 2021. On the other hand, quarterly net profit was reported at Rs 129.93 crore in June 2022, shooting up attractively by 169.06 per cent from Rs 48.29 crore in June 2021. EBITDA stood at Rs 201.41 crore in June 2022, a rise of 68.43 per cent from Rs 119.58 crore in June 2021.
Investors can definitely consider keeping this stock on their watchlist of multi-bagger stocks!