This share has given 162 percent profit in one year. Multibagger shares may rise further. The brokerage has advised to buy the shares.
Stock To Buy : The stock of Man Industries, an iron and steel manufacturing company, has given multibagger returns to investors in the last one year. On the last day of the trading week, this stock is still witnessing a rise. The stock of Man Industries jumped by seven percent to Rs 423.30 in the intraday today. Later, it declined slightly and it started trading at Rs 413.80 with a rise of about five percent on NSE. Brokerage firm MK Global has started coverage of this multibagger stock with a ‘buy’ rating. The brokerage says that in the coming time, this stock can see a rise of 27 percent.
Today, Man Industries share opened at Rs 401.10, up from yesterday’s closing price of Rs 394.40. Good action was seen in this share throughout the day. The 52-week high of this share is Rs 454.90 and the 52-week low is Rs 129.35. The market capitalization of the company is Rs 2,686.51 crore. The promoters’ stake in the company is 46.15 percent and the public holding is 48.9 percent. Foreign institutional investors also hold 1.64 percent shares of the company.
MK Global recommends buying
According to a report by Moneycontrol, risk firm MK Global has recommended buying Man Industries shares. MK has written in its note that the stock price has doubled recently due to better business fundamentals and execution of previously announced expansion plans by the company. According to MK, the group’s revenue may double in the next 3-4 years due to project execution.
Emkay Global believes that the transition that Man Industries has made from demonstrating potential to delivering that potential can create meaningful value for shareholders in the future. Emkay Global has set a target price of Rs 500 for Man Industries shares.
162 percent return in one year
Man Industries stock has made investors rich. This stock has given a return of 162 percent in a year. Meaning, investors’ money has more than doubled in just one year. So far in the year 2024, Man Industries shares have given about 48 percent profit to investors. The price of this multibagger stock has strengthened by 19 percent in a month.
(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you want to invest money in any of these, then first consult a certified investment advisor. News18 will not be responsible for any kind of profit or loss of yours.)
Tags: Money Making Tips, Multibagger stock, Stock market today, Stock tips
FIRST PUBLISHED : June 28, 2024, 15:43 IST