PCBL stock records new all time high, up 4170% in a decade, is there more steam left?
PCBL zoomed 10.19% to register a historic high of ₹244.90 apiece in today's trade. This propelled the stock to achieve a substantial gain of 84% in the current year, registering its best yearly performance since CY17. Looking at the long-term performance, the shares have delivered a 204% return over the last three-year period and over the last decade, the shares delivered a whopping return of 4,170%, climbing from ₹5.62 per share to the current position of ₹238.40.
Going forward, the stock has still room to grow further, according to the projections made by the analysts at JM Financial. Also Read: Multibagger FMCG stock hits life-time high. Gives 450% return in five years PCBL is one of the largest carbon black manufacturers in India and a strong global player with a significant customer base in more than 45 countries.
Carbon black, which is the main raw material in the production of automotive tyres, is produced using carbon black feedstock (CBFS) and tar oil. JM Financial believes that PCBL is well-placed to capitalise on several structural tailwinds that include elevated coal tar prices (and, in turn, carbon black oil prices) because of the higher use of coal tar towards synthetic graphite manufacturing, limited capacity expansions in North America and Europe, lower production of steel, and a shift from traditional blast furnace steel plants to electric arc furnace steel plants, which will further increase coal tar prices, it noted. Also Read: Multibagger defence stock hits life-time high.
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