Multibagger liquor stock hits upper circuit after ₹180 crore loan sanction. Shares close to record high
Multibagger stock: Shares of Jagatjit Industries Ltd have been in uptrend since March 2023. The BSE listed stock bottomed out at around ₹90 and went on to hit ₹150 apiece levels during morning deals on Tuesday. It is one of the multibagger stocks that Indian stock market has delivered in last few years.
In post-Covid rebound, this multibagger stock has surged from around ₹19 to ₹150 apiece levels, delivering to the tune of 700 per cent return to its positional investors who took position during borrom fishing after the Covid-19 sell off. However, it seems that the small-cap brewery stock still has some steam left in it. Top 5 defence stocks to watch out in Nifty's run-up to 40,000 Multibagger luiquor stock today opened upside and went on to hit 5 per cent upper circuit within few minutes of stock market's opening bell on Tuesday.
While hitting upper circuit, the small-cap vrewery stock came close to its life-time high of ₹163 apiece on BSE. Multibagger IPO: SME stock turns ₹1.2 lakh to ₹4.2 lakh in two months The liquor company recently announced that it has received a sanction of term loan of ₹180 crore from Indian Renewable Energy Development Agency (IREDA). This capital is earmarked for the establishment of a cutting-edge 200 KLPD grain-based ethanol distillery plant, situated across 25 sprawling acres in Hamira, Punjab.
The primary objective of this facility is the production of ethanol for blending with petroleum, thereby contributing to the biofuel sector. Jagatjit Industries claimed that it has already secured environmental clearance from the Ministry of Forest & Environment in FY 2022-2023 for this groundbreaking ethanol manufacturing facility. The total project investment is approximately INR 210 crores, with a
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