Multibagger Stocks: Shares of PCBL had reached a record high in late September last year but since then it has come down considerably. According to the brokerage firm, the way the company is continuously expanding and controlling costs, its business may see good growth. In such a situation, this decline should be seen as a buying opportunity. According to brokerage, it may rise by about 29 percent from the current level. It had closed at Rs 358.40 on NSE on Friday, January 17. The special thing is that this stock has proved to be a multibagger in the long term and in a little more than 11 years it has made one a millionaire on an investment of Rs 1 lakh.
PCBL made him a millionaire in 11 years
PCBL shares were available at a price of just Rs 3.50 on 11 October 2013. Now it is at Rs 358.40, that is, in a little more than 11 years, an investment of Rs 1 lakh became a capital of Rs 1 crore. It is not that it has given strong returns only in the long term but it has also generated excellent earnings in the short term. Last year, on June 4, 2024, it was at a one-year low of Rs 209.00. From this level, it jumped by almost 180 percent in just 4 months and reached a record high of Rs 584.40 on September 30, 2024. However, the momentum of the shares came to a halt here and at present it is about 39 percent downside from this record high.
Now this is the trend ahead
PCBL is a RP Sanjeev Goenka Group company. It is the largest company in the country and the seventh largest in the world in terms of manufacturing carbon black (rubber black and specialty black). With the acquisition of Aquapharm Chemicals in January 2024, the company entered the chemical segment of phosphonates, polymers and green chelates. Apart from this, it has formed a joint venture with Kindia which will manufacture nano-silicon products for lithium ion and its sales are expected to start in FY 2027/FY 2028.
Brokerage firm Minerva Capitar Research Solutions says that the company is continuously expanding. Considering its business potential, the brokerage has expressed positive expectations regarding sales and margins. Considering all these things, the brokerage has given it a buy rating at a target price of Rs 462.
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