Multibagger FMCG stock BCL Industries jumps 7% despite weakness in stock market today | Mint
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Business News/ Markets / Stock Markets/  Multibagger FMCG stock BCL Industries jumps 7% despite weakness in stock market today
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Multibagger FMCG stock BCL Industries jumps 7% despite weakness in stock market today

Multibagger stock has delivered around 6005 returns in the last five years

Multibagger FMCG stock has risen from ₹1.50 to ₹73.10 apiece in the last 10 years, delivering around 4800% return to its long-term positional investors. (Photo: iStock)Premium
Multibagger FMCG stock has risen from 1.50 to 73.10 apiece in the last 10 years, delivering around 4800% return to its long-term positional investors. (Photo: iStock)

Stock market today: BCL Industries shares are one of the multibagger stocks that the Indian stock market has delivered in the recent few years. In the last five years, this FMCG stock has surged to the tune of 600 per cent. However, it seems that the multibagger FMCG stock still possesses some upside potential. BCL Industries share price today opened upside and went on to touch an intraday high of 73.10 apiece on NSE, logging around a 7 per cent rise against its Wednesday close of 68.40 per share.

This has happened despite a strong sell-off in the Indian stock market. Out of three key indices, the Nifty 50 index is down around 170 points, the BSE Sensex lost around 575 points while the Bank Nifty index crashed over 500 points.

BCL Industries share price history

In the last one month, the multibagger FMCG stock has risen from around 66 to 73.10 level, logging to the tune of a 10 per cent rise in this time. In the last six months, this FMCG stock has risen from around 47.50 to 73.10 per share level, recording more than a 50 per cent rise in this time.

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In the last one year, BCL Industries share price has ascended from around 44.50 to 73.10 per share level, delivering around 60 per cent return to its positional investors. However, in the last five years, this multibagger stock has appreciated from around 10.55 to 73.10 per share level, giving around 600 per cent return to its long-term investors. In the last 10 years, this FMCG stock has gone on to emerge as one of the multibagger penny stocks of the Indian stock market after delivering around 4800 per cent return to its long-term investors who remained invested in the stock throughout this period.

BCL Industries news

In one of its latest exchange filings, BCL Industries Ltd informed Indian stock market bourses about the allotment of 54,66,334 warrants, each convertible into equity shares of face value of 10 each, at an issue price of 360 each.

Also Read: DCB Bank Q3 results: Stock falls over 6% as NIM contracts in December quarter

The FMCG company declared about the warrants allotment saying, “This is in furtherance to the intimation given by the Company on 04th March, 2023 w.r.t. allotment of 54,66,334 (Fifty-Four Lakhs Sixty-Six Thousand Three Hundred Thirty-Four) warrants, each convertible into equity shares of face value of Rs. 10/- each, (“Warrants") at an issue price (“Warrant Issue Price") of Rs. 360.00 each, after receipt of subscription amount being 25% of the issue price from the allottees on preferential basis and subsequent to stock split w.e.f 27/10/2023 all warrant allottees are eligible to get 10 shares allotted against conversion of each warrant they have subscribed."

"Pursuant to present conversion, the Issued, Subscribed and Paid-up Equity Share Capital of the Company stands increased to Rs. 26,89,50,000/- consisting of 26,89,50,000 fully paid-up Equity Shares of Rs. 1/-each," BCL Industries said.

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 making any investment decisions.so

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 25 Jan 2024, 01:13 PM IST
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