Multibagger Stock Tips More Than 350 Percent Return In A Year This Stock Did This Amazing

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Multibagger StockShares of Bengaluru-based garment exporter Gokaldas Exports Limited (GEL) have given returns of over 350 per cent to its shareholders in the last one year. The stock rose 5.5 per cent to a high of Rs 389.50 on the Bombay Stock Exchange (BSE) on Tuesday.

In the last one year, the share price has increased from Rs 86 to Rs 389.5, giving a return of around 353 per cent during this period. An amount of Rs 5 lakh invested in this multibagger stock a year ago would have become Rs 22.64 lakh today.

The stock has jumped nearly 17 per cent since the beginning of this year. With a market capitalization of Rs 2,250 crore, the shares are higher than the 20 day, 50 day, 100 day and 200 day moving averages but lower than the 5 day moving averages.

Recently, Gokaldas Exports recorded a healthy set of numbers for the quarter ended December 2021. The company’s consolidated profit jumped 398 per cent to Rs 30.11 crore for the quarter ended December 2021, as against a net profit of Rs 6 crore in the year-ago quarter. The company’s net sales grew 96 per cent to Rs 520.61 crore during the quarter.

The company said that the order book for the fourth quarter of FY22 remains strong. Apparel sales growth in Target Market, USA, is strong with in-store and e-commerce sales showing decent year-over-year growth. Brokerage firm ICICI Directs has given buy rating to this stock. The brokerage house has kept the target price for the stock at Rs 480 per share.

Brokerage house ICICI Direct said production is currently running at peak utilization level, with a strong order book for the next six months. The company has charted a capital expenditure of Rs 340 crore for the next four years (till FY 25E), which will have the potential to generate incremental revenue of Rs 1300 crore.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)

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