Interestingly, the stock has bounced back 15 per cent from the February lows and currently, it is trading at Rs 366. The stock is on the verge of a technical breakout

In light of these impressive returns, investors are encouraged to keep a close eye on this trending multibagger stock

On Monday, the domestic markets witnessed sharp sell-off amidst rising Covid cases in India, along with other factors like SVB crisis, Adani fraud allegations, fear of aggressive rate hikes and continuous FII selling.

On Monday, Nifty opened on a flat note and hit the day’s high of 17,530 level but severe profit booking pulled Nifty below 17,300 level. Despite this volatile session, one small cap stock from Hotels and Restaurants industry has rallied more than 16 per cent, backed by massive volumes during the initial hours of the day. 

This week, the stock rallied around 10 per cent with massive volumes to touch its breakout level of trend reversal price pattern on weekly charts.

Trading volume also spiked by over 11.49 times and the stock closed at Rs 49.33, up 19.70 per cent

The company has witnessed heavy buying as it has given staggering multibagger returns of more than 580 per cent in less than 6  months

The net profit of the company shot up by more than 978 per cent from the corresponding quarter last year to Rs 230.04 crore.

The company’s product line includes OPGW (Optical Fibre Ground Wire), OFC cables, ACS (Aluminum Clad Steel Wire), ERS (Emergency Restoration System) and OPGW junction boxes. 

Despite the broader market being under selling pressure on February 7, good quality stocks continued to see strong buying interest. These Smallcap stocks outperformed Nifty Smallcap index which fell 0.74 per cent on Tuesday.