Do you own this multibagger stock from the textile sector that gained by 6976 per cent in less than 7 months?
The PE multiple of the stock is just 2.12 whereas the industry PE multiple is 10 and an ROE of 308 per cent.
The Indian textile industry is one of the largest in the world, with a massive raw material and textile manufacturing base. Our economy is heavily reliant on the textile sector. The textile and clothing industry accounts for approximately 14 per cent of industrial production and 3 per cent of the country's GDP. The industry enjoys strong government support through various schemes and initiatives, as well as strong global demand.
One of the multibagger stocks, Baroda Rayon Corporation Ltd, has generated returns of 6976 per cent in less than seven months. It has also been approaching the upper circuit since June 1, 2022, despite market volatility and significant price declines in the domestic market in 2022.
Baroda Rayon Corporation Ltd (BRCL) is a well-established and diversified company engaged in the manufacture of different types of rayon yarn and different types of nylon yarn. The company uses the trade name “SNIALON” for its nylon yarn. The corporation's overall capacity for producing various types of yarn as of FY22 is approximately 70,000 MT/PA and the company also started a new real estate business.
Today, shares of BRCL closed at Rs 328.35, down by 5 per cent. The PE multiple of the stock is just 2.12 whereas the industry PE multiple is 10 and an ROE of 308 per cent. The stock gave multibagger returns of 6976 per cent in just 7 months whereas BSE Sensex is just up by 11.35 per cent in 7 months. Do you own this multibagger stock?