Some stocks in the share market have given amazing returns to investors, which has made them rich in just a few years. Today we are telling you about one such stock. This defense sector stock has crossed the level of more than Rs 10,000 in three years.
On August 6, 2021, the shares of Solar Industries India Limited were at Rs 1,774, which has now reached Rs 10,789. During this period, it has given a multibagger return of 508 percent. In such a situation, if someone had invested Rs 1 lakh in this stock, then his one lakh would have turned into 6.08 lakhs in this period.
Earned so much in two years
This defense sector stock has given good returns in one year and two years as well. In one year, it has multiplied investors’ money by 2.6 times while in 3 years it has multiplied it by 3.25 times. That is, this stock has risen by 163% in one year and 225% in two years. However, its 52-week high level is Rs 13,300, which was on July 11. From here, this stock has fallen by 19 percent.
Is this stock overbought?
On Wednesday, these shares rose 6.06 percent to Rs 10,789.95. Whereas a day earlier, these shares closed at Rs 10,172.55 on BSE. This defense stock has now gained momentum after the June quarter results. The market cap of the company is Rs 92,470 crore. The RSI of the company is 39.6, which means that this stock is neither overbought nor oversold.
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financial performance
Its net profit was Rs 201.59 crore in the June 2023 quarter, which has increased by 49.08 percent to Rs 300.54 crore in the June quarter of this year. However, talking about revenue, it has increased by 0.75% from Rs 1682.21 crore to Rs 1694.78 crore. EBITDA has increased by 43 percent to Rs 473.67 crore.
(Note- Before investing in any stock, please consult your market expert.)
Source (PTI) (NDTV) (HINDUSTANTIMES)