This multibagger stock surged 36% in a month over debt reduction plans

Sindhu Trade Links, a multibagger smallcap stock, has been on the radar of investors in the month of April 2023. The stock has risen about 36 per cent as the company mulls to become debt free by the end of the current calendar. The company has been focusing on debt reduction recently.

Sindhu Trade Links has reduced its secured debt by Rs 74.34 crore from Rs 173.50 crore to Rs 99.16 crore. The current outstanding of the company is less than Rs 100 crore. The company initiated the debt reduction program last year after its business of disturbed by the Covid-19 pandemic.
 

It has substantially reduced its debt in the past two quarters and aims to become debt free by the end of 2023, considering the mass development in its business operations in India as well as overseas.

Shares of Sindhu Trade Links hit Rs 23.40 on Friday as the stock rose more than 36 per cent in April so far. The stock had settled at Rs 17.16 on March, 2023. In the year 2023, the stock has gained more than 25 per cent. However, it is down about 45 per cent in the last one year.

Sindhu Trade Links' stock has rallied more than 1,200 from its Covid-19 lows at Rs 1.8. In the last six years, the stock has zoomed about 4,000 per cent. The company is commanding a market capitalization of more than Rs 3,500 crore.

Sindhu Trade Links is primarily engaged in transportation logistics and support services. The company through its subsidiaries is also engaged in diversified businesses like media, overseas coal mining, biomass-based power generation and others.

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