This low P/E stock is trading at lifetime high
Usually, low P/E stocks are considered attractive for investments. However, not all low P/E stocks turn out to be multibaggers. Titan Biotech is one such stock, which is trading at low P/E and is turning out to be a classic multibagger.
The stock has jumped from Rs 50 per share in April 2016 to Rs 221 per share as of April 22, 2021, thus, recording gains of more than 400 per cent in five years. In one year, the stock has gained by more than 400 per cent but remained flat from 2016 till April last year.
The company has a market capitalisation of Rs 170 crore and is trading at a P/E multiple of 6.22. The RoE for the company is close to 18 per cent while the company is almost debt-free. The promoter holding has increased by 1.64 per cent over the last quarter and Titan Biotech has delivered good profit growth of nearly 29 per cent CAGR over the last five years.
Titan Biotech Limited is one of the leading manufacturers & exporters of the biological products used in the field of pharmaceutical, nutraceutical, food & beverages, biotechnology & fermentation, cosmetic, veterinary & animal feed, agriculture industries, microbiology culture media & plant tissue culture media, etc.
On Thursday, the stock was seen trading at Rs 221 per share, up by more than 7 per cent on an intraday basis. Besides, the stock is trading at its lifetime highs.