Multibagger BSE stock Balu Forge jumps 7% ahead of NSE mainboard listing next week

livemint.com:

Stock market today: Ahead of the NSE mainboard listing on 29th April 2024, multibagger BSE stock Balu Forge Industries witnessed strong buying in the early morning session. This buying bet in Balu Forge share price took place despite weak stock market bias on Friday.

Balu Forge share price today opened at ₹280 apiece on BSE with a big gap-up against Thursday's close price of ₹272.95 per share and went on to touch an intraday high of ₹289.65 apiece, recording an intraday high of nearly 7 percent. While climbing to this intraday high, the multibagger stock that has surged over 200 percent in one year came close to its lifetime high of ₹301 per share.

Informing the Indian stock market exchanges on Thursday about the NSE mainboard listing, Balu Forge Industries said, “We are pleased to inform that our Company’s shares will also be listed/traded on the main board of NSE from 29th of April, 2024, this earmarks one of the credible milestones for BFIL, further this will help grow and strengthen the visibility of BFIL amongst the entire capital market community." Balu Forge Industries management went on to add that the listing of BFIL’s Equity shares on NSE will ensure consistency and transparency which will likely enhance investor’s confidence and visibility. Apart from monitoring the explicitness, NSE will entitle the investors with the following perquisites; 1] Ensuring a lower impact cost; 2] Visibility; 3] Unprecedented Global Reach; and 4] Settlement Guarantee.

As mentioned above, Balu Forge shares are one of the multibagger stocks that the Indian stock market has delivered in one year. In one month, this multibagger stock has risen from around ₹190 to ₹290 apiece level, recording over 50 percent rally in this period.