The shares of Tirupati Forge Ltd, a small-cap company advanced 13.37% to reach a fresh 52-week high of ₹ 25.00 apiece on Wednesday’s early trades. This happened after Aegis Investment Fund, a Mauritius-based foreign institutional investor (FII) bought its shares. Its shares were trading at ₹ 23.60 apiece at 12:00 PM.
According to the data available on NSE’s website, Aegis Investment Fund bought 5 lakh shares of the company at an average price of ₹ 22.00, taking the aggregate amount to ₹ 1.1 crores.
Tirupati Forge Ltd manufactures carbon steel forged flanges, forged components and other automotive components. It has a market capitalization of ₹ 216 crores and an ideal return on equity of 20.57%. Further, its promoters hold a 57.59% stake in it.
The company has given multi-bagger returns of 122.64% in the past year. Therefore, if an investor would have invested ₹ 1 lakh in the company’s shares a year ago, the value of their holdings would have been ₹ 2.22 lakhs today!
Initially, Tirupati Forge got listed on the NSE SME Exchange in October 2017. It had a decent listing at ₹ 34.80 against an issue price of ₹ 29, thereby providing 20% returns to its investors. Later, the company went on to announce a 3:4 bonus and a 1:5 split, which further benefitted long-term investors.
Written by Simran Bafna
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
