The shares of Rexnord Electronics and Controls Ltd. rallied 10% on the bourses during the early hours of trading on Wednesday. The stock of the company rose sharply to reach its upper circuit limit and 52-week high of Rs. 159.50 per share.
Rexnord Electronics and Controls Ltd. is a small-cap electrical goods manufacturer with a market capitalization of Rs. 178 crore. Rexnord was established in 1984 and has wide experience in the production of fans and motors. Its head office is located in Mumbai, Maharashtra. Presently, it has a production capacity of 4 million motor units every year.
In the past month alone, the shares of Rexnord Electronics and Controls have generated a multi-bagger return of 115.40% for the shareholders. The stock has surged to Rs. 159.50 per share from Rs. 74.05 a piece on 19 September a month ago.
Rs. 1,00,000 invested a month ago would have become Rs. 2,15,400 by now resulting in multi-bagger gains of Rs. 1,15,400.
The past year’s performance of the stock is eye-popping as well. In the last twelve months, Rexnord’s stock has surged impressively by 224.19%. Rs. 1,00,000 invested in Rexnord Electronics and Controls would have become Rs. 3,24,190 in one year translating into multi-bagger profits of Rs. 2,24,190 for the investors.
For the quarter ended June 2022 (Q1FY23), the company recorded sales of Rs. 21.61 crore, an increase of 9.31% from Rs. 19.77 crore in the quarter ended March of the fiscal year 2021-22 (Q4FY22). During the same period, its profits climbed 9.42% on a quarterly basis from Rs. 2.44 crore in Q4FY22 to Rs. 2.67 crore in Q1FY23.
Written by – Vikalp Mishra
