130% return in 2 years: Multibagger’s stock is focused as the company plans to expand
Pokarna shares opened in the green today at Rs 1136.05 on BSE as against the previous close of Rs 1103.20. The counter further gained a touch high of Rs 1150 to trade close to its 52-week high of Rs 1,180.40. However, it fell as low as Rs 1040. Last seen, the counter was trading at Rs 1046.50.
The company’s stock, which has a market cap of Rs 2,231 crore, had a 52-day low of Rs 419.10.
Shares of multibagger stock Pokarna are in focus as the company announced a strategic investment of Rs 440 crore. According to the company, the investment is aimed at meeting the growing demand for premium quartz properties around the world.
With this expansion, PESL will introduce its third Bretonstone production line from Italy’s Breton SpA, setting new standards for capacity and environmentally friendly production.
Meanwhile, the equity benchmark index fell in early trade on Wednesday amid retail inflation that hit a 14-month high of 6.21 percent in October and unabated foreign currency outflows.
Muted earnings for the quarter and weak conditions in global markets were also a spoilsport for the markets, traders said.
The BSE benchmark Sensex fell 239.69 points to 78,435.49 in early trade. The NSE Nifty fell by 103.15 points to 23,780.30.
From the 30-share Sensex pack, Mahindra & Mahindra, Maruti, Tata Steel, Sun Pharma, Nestle, and ITC were the top performers.
Titan, HDFC Bank, Bharti Airtel, and NTPC were among the gainers.
Retail inflation breached the Bank’s upper limit of tolerance, rising to a 14-month high of 6.21 percent in October due to higher food prices.
