Zuari Industries stock delivers over 300% returns in 4 years; is there more upside ahead?
Zuari Industries (ZIL), the holding company of the well-established and diversified Adventz Group, spiked 4.8% in today's trade, reaching a new 52-week high of ₹217.60 apiece. The stock has demonstrated significant gains in the last four weeks, gaining 40.36%. It is worth noting that the stock has zoomed 101.4% from its March 2023 low of ₹104 apiece to trade at the current market price of ₹209.55.
Long-term investors have also reaped impressive rewards, with the stock delivering a remarkable return of 319% over the past four years, climbing from ₹50 per share to its current position. Despite this impressive performance, the stock is still trading 76.66% below its all-time high of ₹898 per share, achieved in 2010. Analysts at Arihant Capital Markets project that the stock may reach close to these levels.
In their latest note, the brokerage maintains its 'buy' recommendation on the stock, establishing a new target price of ₹671 per share. Also Read: Top multibagger IPOs of 2023: These 5 IPOs gave up to 240% return this year Adventz Group has engineering expertise and offers technical consultancy, project management, and contracting services for chemical, fertiliser, oil and gas, petrochemical, power, and other infrastructure projects. The group has ventured into real estate and aims to create world-class yet affordable homes and office spaces.
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