Multibagger Stocks 2021: The company’s shares have given more than 450 percent return to its shareholders in the last 12 months. In this, Rs 1 lakh invested a year ago would have increased to about Rs 5 lakh now.
Multibagger stocks 2021: This year the shares of many companies have given bumper returns to the investors. In the year 2021, many midcap and smallcap stocks managed to make it to the list of multibagger stocks. Shares of Nitin Spinners Limited are also one of them. Shares of Nitin Spinners have given more than 450 per cent returns to their shareholders in the last 12 months. In this, Rs 1 lakh invested a year ago would have increased to about Rs 5 lakh now.
Last year, the share price of Nitin Spinners was Rs 40.30 per share on July 27, 2020, which increased to Rs 222.90 per share on July 28. In this way, the stock has registered a rise of 453 percent in the last one year. In comparison, the Sensex rose 35 per cent in a year.
Share at alltime high
The stock has gained 151 per cent in the last three months and has gained 213 per cent since the beginning of this year. It has been gaining momentum since last 5 days and during this period it has given a return of 18.7 per cent. Seeds of weakness in the market Today today the company’s stock rose 4 percent to reach an all-time high of Rs 222.9. The market cap of the company has gone up to Rs 1,226 crore.
Along with giving 453 returns in the last one year, this stock has outperformed the BSE 500 in the last 3 years, 1 year and 3 months. However, it was noted that valuations are still very expensive.
Investor from Chennai invested
As per the June 2021 shareholding pattern, Chennai-based investor Dolly Khanna holds 1.24 per cent stake in the company. He bought 6,95,095 shares of the company during the April to June 2021 quarter. Eminent investors were on a buying spree and added 7 new stocks to their portfolio in the same quarter.
about the company
Promoted by the Nolakha family, NSL is a leading manufacturer of cotton yarn, knitwear, greases and ready-made woven fabrics and is one of the recognized export houses by the Government of India.
Company’s profit increased in March quarter
The company reported a standalone profit of Rs 42.86 crore for the quarter ended March 2021. In the year-ago period, the profit was Rs 6.52 crore. Revenue from operations grew 34.5 per cent to Rs 511.58 crore in the March-end quarter, from Rs 380.13 crore a year ago.
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