Rs 55 to Rs 587: This stock turned into a multibagger in three years; approached 52-week high today

Shares of multibagger Raghav Productivity Enhancers Ltd have delivered over 900% returns in three years. The stock of the ramming mass maker, which closed at Rs 55.45 on August 6, 2020, hit a high of Rs 587.05 today, delivering 958% returns during the period. In comparison, Sensex has risen 74.38% in three years. The stock turned ex-bonus in a ratio of 1:1 today. Raghav Productivity Enhancers had fixed August 8 as the record date for the same. The stock of the ramming mass maker has zoomed 68% in a year and gained 23.67% in 2023.    

In the previous trading session, Raghav Productivity Enhancers stock ended 1.31% lower at Rs 1080.45 against the previous close of Rs 1094.80 on BSE.  

In the current session, Raghav Productivity Enhancers stock opened higher at Rs 584 on BSE. The stock zoomed 8.66% intra day to Rs 587.05, near to the 52 week high of Rs 590 hit on January 16, 2023. 

Total 0.35 lakh shares of the firm changed hands amounting to a turnover of Rs 1.95 crore on BSE. Market cap of the firm rose to Rs 1273.75 crore on BSE.       

In terms of technicals, the relative strength index (RSI) of the stock stands at 58.5, signaling it's trading neither in the overbought nor in the oversold zone. Raghav Productivity Enhancers shares have a beta of 1.1, indicating high volatility in a year. Raghav Productivity Enhancers shares stand higher than the 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.   

Earlier, the board of Raghav Productivity Enhancers on July 24, 2023 recommended a bonus issue of equity shares in ratio of 1:1. It also announced earnings for the quarter ended June 2023.   

The firm reported a 12.44% fall in revenue to Rs 33.76 crore in the June 2023 quarter against Rs 38.56 crore  in the June 2022 quarter.Net profit climbed 7.70% to Rs 5.73 crore in Q1 against Rs 5.32 crore in the June 2022 quarter.  Profit before tax rose to Rs 7.67 crore in Q1 against Rs 7.09 crore in the March quarter of 2022.       

Raghav Productivity Enhancers Limited is engaged in the manufacturing of and other quartz-related products. The company is manufacturing, supplying, and exporting silica (acidic) ramming mass. Ramming mass is used as furnace refractory lining material for steel industries. Ramming mass is used as an insulation layer and is consumable for induction melting furnaces. The Company's manufacturing facilities are located in the quartz mining area of Rajasthan, India. The Company offers a range of products, such as ramming mass, quartz minerals, silica powder, silica sand, industrial minerals, and quartz powder.  

 

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