Multibagger penny stock hit all-time high on February 16: FIIs bought over 1.5 crore shares and company reported an 81.6 per cent jump in net profit!

The stock gave multibagger returns of 933 per cent in 3 years and a whopping 6,200 per cent in a decade.

Today, shares of BCL Industries Ltd gained 3.75 per cent and made an all-time high of Rs 86.25 per share from its previous closing of Rs 83.13 per share. The stock also made a 52-week high is Rs 86.25 per share while its 52-week low is Rs 38.06 per share. From Rs 71.5 to Rs 86.75 per share, the stock is up by 21 per cent in just 1 month.  

The company had a strong financial performance in both Q3FY24 and 9MFY24. In Q3FY24, quarterly income increased by 28.7 per cent to Rs 646.24 crore, and net profit jumped by 66.7 per cent to Rs 32.78 crore compared to Q2FY24. On a year-to-date basis, net sales rose 16.4 per cent to Rs 1,586.97 crore, and net profit grew by an impressive 81.6 per cent to Rs 72.20 crore.

Ace investor Sangeetha S and foreign institutional investors (FIIs) made significant purchases of this company's shares in the December quarter (Q3FY24). Sangeetha S acquired 33,36,900 shares, while FIIs bought a whopping 1,53,48,927 shares. This buying spree has resulted in promoters and FIIs now holding a combined 62.8 per cent stake in the company, leaving the public ownership at 37.21 per cent.

Earlier, the company and its subsidiary Svaksha Distillery Limited secured ethanol supply contracts worth Rs 561 crore from leading Oil Marketing Companies (OMCs) - BPCL, IOCL, HPCL, and RIL. The total volume committed amounts to a staggering 8.20 crore litres.  

BCL Industries Limited is one of India’s largest agro-processing manufacturing companies with diverse businesses and vertical integrations. Established in 1976, BCL Industries Limited is engaged in edible oils, rice milling, grain-based distilleries and real estate. It is present in Punjab and West Bengal. BCL Industries Ltd Limited is a part of the Mittal group with a market cap of over Rs 2,200 crore.  

The stock gave multibagger returns of 933 per cent in 3 years and a whopping 6,200 per cent in a decade. Investors should keep an eye on this Small-Cap stock.  

Disclaimer: The article is for informational purposes only and not investment advice. 

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1 comments on article "Multibagger penny stock hit all-time high on February 16: FIIs bought over 1.5 crore shares and company reported an 81.6 per cent jump in net profit!"

Bsbhat

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2/19/2024 12:31 PM

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