This auto ancillary stock gives multibagger return in just 5 months. Details here
Shares of TVS Srichakra Ltd have outperformed by rallying more than 28% in the last month with the stock hitting its 52-week high level of ₹3,279 apiece that it had hit on November 28, 2022 on the BSE. The counter was trading nearly a per cent higher at ₹3,197 apiece on the BSE in Friday’s early trading session.
The stock has given multibagger return of more than 101% in the last five months, by surging from ₹1,590 level to over ₹3,200 per share level recently during the period under review. TVS Srichakra shares have rallied more than 61% in 2022 (YTD) so far, as compared to over 6% rise in benchmark BSE Sensex during the period.
For the quarter ended September 2022 of the current fiscal (Q2 FY23), the company’s net profit rose by 51% to ₹38 crore as against ₹25 crore in the year ago quarter. Meanwhile, its revenue rose to ₹833 crore during the July-September period was up over 21% from ₹687.51 crore in the corresponding quarter of the current fiscla.
TVS Srichakra is a member of TVS group, an auto ancillary group in India. TVS Srichakra is a leading manufacturer of Tyres and Tubes for Two & Three Wheelers in India.
The company is engaged in Moped tyres producing 2.7 Million tyres and tubes per month and a lions share of business from all original equipment manufacturers (OEMs). The other product range includes off high way tyres for Industrial, Farm, agriculture impliments, Tractors, Construction and OTR Tyres. Exports to USA, Europe, Latin America, Australasia and Middle East.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.