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Multibagger stock in making? Pharma stock Sigachi Industries hits 52-week high after Q2 results 2023


Multibagger stock: Sigachi Industries shares are one of those stocks that might delivere multibagger return in YTD. This pharma stock has surged to the tune of 96 per cent in 2023 and looking all set to double positional investors’ money in YTD. However, before it could double shareholders’ money, it has climbed to a new 52-week high of 55.85 per share levels on NSE.

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Incidently, the potential multibagger pharma stock has hit 52-week high after declaration of Q2 results 2023 on Tuesday. As per the lasted exchange filing by Sigachi Industries, the pharma company has reported 18.50 per cent rise in total income during July to September 2023 quarter. In this period, company’s net profit grew more than 11 per cent while its revenue from operations in second quarter of the current financial year increased over 20 per cent in YoY terms.

Sigachi Industries Q2 results 2023

The board of directors of the pharma company considered and approved un-audited financial results of the company for second quarter of the current fiscal on 14th November 2023. As per the exchange filing of the company, company’s second quarter net profit in the financial year 2023-24 grew over 11.30 per cent to 15.12 crore against Q2FY23 net profit of 13.58 crore.

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Sigachi Industries Ltd reported YoY growth of 18.50 per cent in total income to 100.28 crore against a total income of 84.68 crore in corresponding period of the previous financial year. Company’s revenue from operations in second quarter of the current financial shot up over 20 per cent to 9.18 crore, which stood at 82.47 crore in second quarter of the previous financial year.

Sigachi Industries share price history

In last one month, this pharma stock has risen from around 39 apiece levels to 55.85 per share levels, delivering to the tune of 40 per cent return to its shareholders in this time. In last six months, this pharma stock has delivered multibagger 120 per cent return to its positional investors. However, in YTd time, this stock has almost doubled sharesholders’s money by giving around 96 per cent return to its ivestors.

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This multibagger stock in making is available for trade on both NSE and BSE. Its current trade volume on NSE is around 78 lakh and near three hours of trade is still left in Wednesday session. Its 52-weel high on NSE is 55.85 apiece whereas its 52-week low is 21.98 per share levels.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.

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Updated: 15 Nov 2023, 12:54 PM IST

Joanna Swanson

Joanna Swanson is Europe correspondent at the Thomson Reuters Foundation based in Brussels covering politics, culture, business, climate change, society, economies and inclusive tech. With specific focus in breaking news, she has covered some of the world's most significant stories.