Ace investor Mukul Agarwal bought stake in this multibagger stock that rallied over 110% in 1 year
De Nora India, a small-cap company, closed on Thursday with a market valuation of ₹561.60. De Nora India, a subsidiary of De Nora Group, is a market leader in electro chlorinators, cathodic protection systems, cathode for the chlor-alkali industry, and surface finishing. De Nora is a global leader in the manufacture of solutions and services for the production of chlorine, caustic soda, and derivatives for the chlor-alkali industry. It is also the largest producer and recoater of noble metal-coated electrodes, electrolyzers, and coating solutions for the electrochemical industries generally. De Nora has been active in the electrochemical industry for over 95 years.
As per the data available on BSE, ace investor Mukul Agarwal bought a stake during the quarter ended March 2023 in the multibagger stock De Nora India which has rallied over 11% in 1 year. Mukul Agarwal held 72,785 equity shares or 1.37% in De Nora India during Q4FY23. Mukul Agrawal publicly owns 51 stocks with a net worth of more than Rs. 2,658.0 Cr., according to corporate shareholdings disclosed for March 31, 2022. During the quarter ended March 2023 or Q4FY23, ISMT Ltd, TAAL Enterprises Ltd and Capacit’e Infraprojects Ltd are the stocks in which Mukul Agrawal bought a stake and currently are his new portfolio stocks including De Nora India.
On Thursday, the shares of De Nora India closed on the NSE at ₹1,067.00 apiece level, up by 12.54% from the previous close of ₹948.10. The stock has produced a multibagger return of 142.09% over the past five years and a multibagger return of 580% over the past three years. The stock’s multibagger return over the past year was 111.98%, and YTD, it climbed by 61.41% in 2023. The stock touched a 52-week-high of ₹1,080.00 on (13-Apr-2023) and a 52-week-low of ₹460.20 on (12-Apr-2022). During Q4FY23, the company reported a promoter shareholding of 53.68%, FIIs stake of 0.56%, and a public stake of 45.76%.
Commenting on the technical outlook of the stock, A R Ramachandran, Co-founder & Trainer-Tips2trades said “Even though fundamentals are great in terms of ROCE and profitability, De Nora India technically looks overbought on the Daily charts with strong resistance now at ₹1122. Investors should be booking profits at current levels and wait for a dip near support of ₹810 to initiate fresh buy positions.”
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Download Finplay News App to get Daily Market Updates.
More
Less
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.