On October 1, 2020, the share price of Pitti Engineering on BSE was only ₹30.75.On October 1, 2024, this share closed at the level of ₹ 1289.65.Thus, during this period, the stock has given a huge return of 4000%.
New Delhi. Every investor wants his investment to double, triple or 10 times in a short time, and for this he looks for options with good returns in the short term. There are some such shares which give bumper returns to the investors in a short time. One of these is the share of Pitti Engineering, which has increased investors’ money by almost 42 times in the last 4 years. Pitti Engineering is India’s largest manufacturer of electrical steel laminations, motor cores, sub-assemblies, die-cast rotors and press tools. The company is listed in the stock market since 1994.
Brokerage house DR Chouksey expects Pitti Engineering shares to rise further. The brokerage has given a target price of ₹ 1552 while advising to buy this multibagger share. On October 1, 2020, the share price of Pitti Engineering on BSE was only ₹30.75. On October 1, 2024, this share closed at the level of ₹ 1289.65. Thus, during this period, the stock has given a huge return of 4000%.
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₹50,000 became ₹21 lakh
If someone had invested ₹ 50,000 in the multibagger shares of Pitti Engineering 4 years ago, then today that investment has become ₹ 21 lakh. Similarly, an investment of ₹1 lakh is now equal to ₹42 lakh. Even in the last one year, Pitti Engineering shares have given double returns to investors. In the last 12 months, this stock has given 116 percent return to investors. The stock has increased by 81% so far in the year 2024 and by about 60% in the last 6 months. The market cap of the company has crossed Rs 4500 crore. The 52-week high of Pitti Engineers share is Rs 1447 while the 52-week low is Rs 584.25.
QIP of Rs 360 crore
In July this year, Pitti Engineering had launched a Qualified Institutional Placement (QIP) worth Rs 360 crore. In the financial year 2024, the consolidated revenue of the company was Rs 1201.59 crore, while the net profit was Rs 90.19 crore.
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first published : October 2, 2024, 6:51 pm IST
