The Indian equity benchmarks BSE Sensex and NSE Nifty50 opened in the green on Tuesday amid largely positive cues from global markets. Till the afternoon, the Nifty50 was trading 91 points or 0.49% higher at 18,588 levels while the BSE Sensex gained 337 points or 0.5% to trade at 62,477 levels.
Amid growing markets, here are 2 stocks that have entered the Multibagger club recently and zoomed up to a new 52-week high:
KRBL Ltd
The shares of KRBL Ltd have zoomed by more than 5 per cent till the afternoon on Tuesday and reached a 52-week high of Rs 444.60. During the past month, the stock has zoomed marginally and added 7 per cent.
The stock price has increased from Rs 211 in June around the same time up to the current levels representing a multibagger return of 108 per cent. An investment of Rs 1 lakh in June would have turned into Rs 2.08 lakh in just six months.
KRBL Ltd. is an Indian rice processing and exporting company. It holds the title of being the world’s largest rice miller. The company owns the brand ‘India Gate’ which is the largest-selling rice brand in India.
The company has a market capitalization of Rs 10,295 crore. In Q2FY23, their revenue stood at Rs 1,319 crore and their net profit was at Rs 213 crore.
Great Eastern Shipping Company Ltd
The shares of Great Eastern Shipping Company opened at Rs 689.50 on Tuesday and gained more than 5 per cent to reach its new 52-week high of Rs 727.90. During the past month, the stock has gained 18 per cent.
On a Year to Date (YTD) basis, the stock price has jumped from Rs 302 in January to the current levels logging a multibagger return of 136 per cent. An investment of Rs 1 lakh in January would have turned into Rs 2.36 lakh today.
The Great Eastern Shipping Company Limited is India’s largest private-sector shipping company which mainly transports liquid, gas, and solid bulk products. It also provides offshore oilfield services with the principal activity of owning and/or operating offshore supply vessels and mobile offshore drilling rigs.
The company has a market capitalization of Rs 10,202 crore and a dividend yield of 1.39%. In the second quarter of FY23, their revenue stood at Rs 1,319 crore and their net profit was at Rs 213 crore.
Written by Anoushka Roy
