Multibagger stock return: Pondy Oxides and Chemicals Ltd Shares have given a multibagger return to its shareholders in the last 12 months. In the last one year, the share price of the company has increased from Rs 212.8 to Rs 910.25. During this period it has given returns of more than 329 percent to its investors. Today, the stock jumped more than 5 percent to reach an all-time high of Rs 920 on the BSE. Long-term investors have made huge profits by investing in this small-cap stock as it has grown by almost 3,600 percent in the last ten years.
Added to Dolly Khanna’s portfolio
With a market capitalization of Rs 520 crore, the shares are trading higher with 5 day, 20 day, 50 day, 100 day and 200 day moving averages. As per the shareholding pattern available on BSE, Chennai-based marquee investor Dolly Khanna held 2,11,461 shares or 3.6 per cent stake in the company at the end of March quarter.
Let us tell you that Khanna has been investing in the domestic stock market since 1996 and her portfolio is completely managed by her husband Rajiv Khanna. He specializes in identifying unknown but quality stocks to bet on for multibagger returns.
Also read- This Adani company did wonders! Got rich by giving 182% return to investors, now a new record has been created
financial position of the company
Pondy Oxides and Chemicals Ltd reported a 344 per cent year-on-year growth in its net profit at Rs 14 crore for the October-December quarter. Revenue from the sale of products and services grew by 41 per cent to Rs 413 crore.
Kranti Bathini, equity strategist at Wealthmills Securities, said the excitement around the stock is because the company extracts lead from scrap batteries and reuses it after refining. He said that investors who take high risk can invest in stocks at this time.
Also read- Global investment of ₹ 4,000 crore will be done in this Tata Group company, shares will go for ₹ 300! Expert Bullish
Shares will cross Rs 1100
According to a report in Business Today, the counter will continue to outperform in the coming trading days and may move towards the 1100 – 1150 levels in the near term.