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Rs 10 to Rs 90: This stock has turned into a multibagger in six months

An investment of Rs 1 lakh in the share six months ago would have grown to Rs 8.44 lakh today

Aseem Thapliyal | December 1, 2020 | Updated 13:46 IST
Rs 10 to Rs 90: This stock has turned into a multibagger in six months
Anjani Foods share price stood at Rs 10.74 six months ago and rose to Rs 90.65 on December 1, translating into gains of 744% during the period.

Share of Anjani Foods has delivered strong returns to investors in the last six months. Anjani Foods share price stood at Rs 10.74 six months ago and rose to Rs 90.65 on December 1, translating into gains of 744% during the period.

In comparison, Sensex rose 33.64% during the period. An investment of Rs 1 lakh in the share six months ago would have grown to Rs 8.44 lakh today.

Anjani Foods stock hit all-time high Rs 90.65 today against previous close of Rs 88.90 on BSE. Anjani Foods stock has gained 104.98% in the last 19 days.

The micro cap share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. In one week, the share has gained 11.68%. Market cap of the firm rose to Rs 49 crore.

The rise in stock can be attributed to decent earnings performance during times of slowdown and COVID-19 lockdown.

Anjani Foods reported a 20.53% rise in Q2 sales at Rs 7.28 crore against Rs 6.04 crore in previous quarter.  Despite economic slowdown and coronavirus lockdown, the company logged a marginal fall in sales to Rs 6.04 crore in June quarter compared to Rs 6.51 crore in March quarter this year.

However, net profit fell marginally to Rs 0.38 crore in the September quarter of the current fiscal against Rs 0.41 crore profit in Q1 of current fiscal.

From loss of Rs 0.06 crore in March quarter, the firm sprung to a net profit of Rs 0.41 crore in Q1 of the current fiscal.

Rakesh Jhunjhunwala earned Rs 2.71 crore per day with this stock for 100 sessions

On an annual basis too, the firm logged a 18.10% rise in sales to Rs 27.54 crore for  fiscal ended March 2020 against sales of Rs 23.32 crore for fiscal ended March 2019.

Net profit also rose to Rs 0.48 crore in last fiscal against Rs 0.01 crore for fiscal ended March 2019. Promoters held 75% stake in the firm at the end of September quarter. Foreign institutional investors (FIIs) and Domestic institutional investors (DIIs) had zero stake in the firm at the end of Q2 of current fiscal.

Financial institutions, mutual funds and insurance companies too held zero stake in the firm. Rest 25% stake was held by non-institutional shareholders.

Anjani Foods Limited is a bakery food-on-the-go retailers and bakery product distributors in Andhra Pradesh, with over a variety of diverse retail and distribution outlets spread across five districts from Srikakulam to Godavari.

Jhunjhunwala earned Rs 5.6 crore per day with this stock for 111 sessions

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