Multibagger stock: Shaily Engineering recorded 140% gain in a year, up over 4900% in a decade; should you invest?
Shaily Engineering Plastics, the country's leading exporter of high-precision engineered plastic products and components, has delivered substantial returns to its shareholders. The company's share price has surged from ₹226 apiece a year ago to the current trading price of ₹542, marking a remarkable gain of 140%. Since hitting its low of ₹191 in May 2023, the stock has witnessed an impressive appreciation, currently trading with a gain of 184%.
During Tuesday's trading session, the stock reached a new record high of ₹578 per share. Looking back, the stock over the last decade delivered a whopping return of 4920%, spiking from ₹10.80 apiece to the current level. In a recent note, domestic brokerage firm Systematix Institutional Equities has initiated coverage on the stock with a target price of ₹720 apiece.
This target indicates a potential upside of 33% from the stock's recent closing price. Shaily Engineering Plastics is engaged in the manufacture and sale of customised components made up of plastic and other materials. Its wide customer base is spread across the healthcare, consumer, personal care, appliances, automotive, and lighting industries.
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