This untrumpeted stock turns 11-bagger in just one year! Do you have it in your portfolio?
Indian markets recently touched record highs as Nifty has more-than-doubled since March lows. Unlike the pre-COVID bull-run, the current bull-run is broad-based while the broader markets have been witnessed outperforming the frontline gauges.
During the current bull-run, there were a few unseen stocks, which delivered multi-fold returns in a span of one year. In this article, we are going to talk about one of the stocks that have been not a 2-bagger or 3-bagger, but an 11-bagger!
The name of the stock is Sportking India. It has gained nearly 1,219 per cent in the last one year. The company has established itself as the prime producer of premium quality yarns and also, as one of the largest exporters of cotton yarn to the most quality-conscious garment brands across the globe. Besides, manufacturing facilities, Sportking also owns over 100 retail garment stores spread across many Indian states. The company is associated with well-known brands such as H&M, Mark & Spencer’s, ZARA, Jockey, and so on.
The stock got locked at a 5 per cent upper circuit limit on Monday after the company reported its quarterly earnings for the quarter ended June 2021. The company’s revenue more-than-doubled to Rs 449.59 crore in the quarter ended June 2021 as against the quarter ended June 2020. The net profit skyrocketed to Rs 79 crore as against Rs 0.36 crore in June 2020. EPS for the quarter ended June 2021 came in at Rs 237.81.
Dear readers, your valuable feedback motivate & encourage us to write more! If you would like to read about more such untrumpeted stocks, drop your views in the comments section below.