Multibagger stock BCL Industries inches close to life-time high after expansion buzz
Multibagger stock: BCL Industries shares are one of the multibagger stocks that Indian stock market has produced in recent years, especially in post-Covid rebound. This multibagger stock has risen from around ₹50 to ₹500 apiece levels in last three years, delivering a whopping 900 per cent return to its positional shareholders in post-Covid stock market rebound. However, it seems that the stock still has some steam left.
BCL Industries share price today opened with an upside gap and went on to hit an intraday high of ₹502 per share on NSE, which is around 6 per cent away from its current life-time high of ₹536.35 apiece. The multibagger stock has recently announced expansion plans. As per its latest Indian stock market exchange filing, the leading distillery industry player in India has said that the group has plans to take up the overall production capacity to 850 KLPD in next two years amid rising demand.
"To capitalize on the ENA supply demand deficit scenario of North-Eastern India, BCL installed 200 KLPD state-of the-art ENA plant at Kharagpur, under its subsidiary M/s. Svaksha Distillery Limited. After stabilizing the operations of phase 1, Company started phase 2 wherein additional capacity of 100 KLPD is being installed.
The company has received the necessary clearances for expansion and has placed all major machinery orders. The company expects to commission this expansion by Dec 23 with a project cost of around ₹90 crore," the company said. The company commissioned its 200 KLPD ethanol dedicated plant in July at Bathinda.
Read more on livemint.com
