Multibagger stock BCL Industries jumps 1100% in three years. InCred sees more upside
Multibagger stock: BCL Industries shares are one of the multibagger stocks that Indian stock market has delivered in recent post-Covid rebound. Shares of this multibagger small-cap company which deals in FMCG, real estate and chemical segment has risen from around ₹40 to ₹490 apiece levels on NSE in stock market rebound after the Covid-19 sell off, delivering more than 1100 per cent return to its positional shareholders. However, InCred Equities sees more upside in the stock.
the brokerage has recommended stock market investors to add this stock in one's portfolio for long term target of ₹925 per equity share. BCL Industries share price today is ₹490 per share, which means the brokerage believes that the multibagger stock still has potential to deliver more than 85 per cent return to its investors. On why you should add this small-cap stock in your portfolio, InCred Equities listed out the following four factors mentioned below: 1] The company’s new plant in West Bengal has commenced production.
2] Strong tailwind in ENA business to aid growth in volume as well as value terms. 3] Ethanol plant, with a capacity of 200klpd in Punjab, is just one quarter away. 4] The recent downturn in its share price could be attributed to a lower-than-expected increase in ethanol prices, dampening the sector’s prospects.
However, the company remains on a firm footing with its huge capacity coming on stream. "The company moving from 200klpd to 600klpd in terms of ethanol/ENA capacity, respectively, in the current financial year," the brokerage said. On suggestion to stock market investors in regard to BCL Industries shares, InCred Equities said, "Current valuation: 6.9x FY25F P/E - target price of Rs.925 with an ADD rating; Bull-case
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