The shares of Manaksia Limited, a holding company, were trading at its new 52-week high of Rs 156.40 after it gained more than 8 percent in the early hours of Monday.
Manaksia Limited is a holding company of manufacturing subsidiaries located in India, Nigeria, and Ghana, engaged in the manufacturing of aluminium, packaging products, and iron & steel.
Its wholly owned subsidiary in Nigeria, MINL Limited, is the market leader in ROPP caps and crown corks in Nigeria. It is also involved in the manufacture of galvanized steel, metal colour-coated sheets & coils, and aluminium alloy ingots for the automotive sector.
Its other step-down subsidiary companies include Jebba Paper Mills Limited in Nigeria and Dynatech Industries Ghana Limited in Ghana. Its Indian subsidiary includes Mark Steels Limited, Manaksia Overseas Limited, and Manaksia Ferro Industries Limited.
The stock has logged multibagger returns of 117 percent, as the share price has risen from Rs 71 a piece in December around the same time up to the current levels. An investment of Rs 1 lakh would be worth Rs 2.17 lakh in just 2 months.
In the past months, the stock has gained more than 94 percent and in the past week, it has scaled up by 16 percent.
The board of the company is set to meet tomorrow i.e, February 14th, 2023 to approve its Q3 results. In Q2FY23, their revenue stood at Rs 261.59 Crore and their profit after tax was at Rs 24.84 Crore.
The small-cap company has a market capitalization of Rs 1,009 Crore. The promoters hold a 74.93 percent stake with zero shares pledged which has remained unchanged for the last five quarters.
Written by Anoushka Roy
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