Keep an eye on this stock which was trading at all time high on November 24
Shares of Rossell India Ltd, were trading at all time high at Rs 372 on Thursday as the stock surged more than 10 per cent.
One of the Top Gainers on the BSE today, shares of Rossell India Ltd, were trading at all time high at Rs 372 on Thursday as the stock surged more than 10 per cent. Additionally, the company’s stock price has risen significantly in the past one year as it gave stellar return of more than 150 per cent. Stock has seen some fresh buying as the spurt in volume was 7.54 times on today’s session.
The stock price is rising due to the positive result posted by the company for the quarter ended September 30, 2022. It has reported 26 per cent growth in sales and 44 per cent growth in net profit, compared to same quarter of previous financial year. Additionally, the company’s borrowing has decreased from Rs 47 crore to Rs 25 crore in FY22 over the period.
Rossell India Ltd is engaged in the business of manufacturing and of Tea and Aerospace Defence. It was incorporated in 1994 as tea manufacturer and then diversified the business into Aerospace Defence. It exports its tea products to countries such as USA, Germany, Japan, Iran and UAE, whereas its aerospace clients include Boeing and Lockheed Martin, Indian Defence forces, etc. Promoters hold 74.91 per cent, whereas FII and DII have increased their stake in the past one year.
Investors must keep an eye on this stock.