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Business News/ Markets / Stock Markets/  Multibagger stock: Knowledge Marine share price delivers over 3,500% in 3 years; what's ahead?
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Multibagger stock: Knowledge Marine share price delivers over 3,500% in 3 years; what's ahead?

Multibagger stock: Knowledge Marine & Engineering Works stock surged 3,500% in 3 years, opened at ₹1,375 on BSE but traded lower. Company approved migration to BSE main board and NSE. Renowned investor Ashish Kacholia holds 2.78% stake. Received ₹98.06 crore deal from IWAI.

Knowledge Marine & Engineering Works shares opened at an intraday high of ₹1,375 on BSE, the stock touched an intraday low of ₹1,321.50.Premium
Knowledge Marine & Engineering Works shares opened at an intraday high of 1,375 on BSE, the stock touched an intraday low of 1,321.50.

Multibagger stock: Knowledge Marine & Engineering Works share price has surged over 3,500% over three-year period. Since its debut in March 2021, investors have witnessed a 40.5 lakh increase in value. However, in today's volatile session, Knowledge Marine share price was trading marginally lower. Knowledge Marine & Engineering Works shares opened at an intraday high of 1,375 on BSE, the stock touched an intraday low of 1,321.50.

Knowledge Marine & Engineering Works was listed on BSE SME on March 22, 2021. The stock opened with a mere premium of 2.7% at 38, as against the issue price of 37. Knowledge Marine share price closed with a listing gain of 3.4%.

Also Read: Ashish Kacholia portfolio: 'Big Whale' raises stake in multibagger stock that has surged 280% in one year

The company said in a recent exchange filing on Tuesday that, subject to shareholder approval, the Board of Directors has reviewed and approved the migration of the company's equity share listing and trading from Small and Medium Enterprises of Bombay Stock Exchange Limited ("BSE SME") to the Main Board of Bombay Stock Exchange Limited ("BSE"). Additionally, subject to shareholder approval, the direct listing and trading of the company's equity shares on the National Stock Exchange Limited (NSE) was approved.

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“the company would seek the requisite approval from its shareholders through postal ballot. The process, timelines and other requisite details with regard to the postal ballot will be communicated in due course," said Knowledge Marine in its filing.

Knowledge Marine & Engineering Works Limited's primary areas of competence are marine vessels and the engineering and building of maritime infrastructure. It is a well-known player in the small-crafts market in India.

Renowned investor Ashish Kacholia holds a 2.78% stake in the company as of March 2024, as per BSE data. 

Also Read: Multibagger Stock: Ajmera Realty records 190% return in one year, spiked over 580% in 3 years

The company received a deal in March for "Fairway Maintenance of Farakka – Kahalgaon (146 km) stretch of National Waterway -1 (River Ganga)" from the Inland Waterways Authority of India (IWAI) for a total of 98.06 crores over three years.

As per trendlyne data, Knowledge Marine share price has gained over 480% in the range of two years. Currently, the stock has fallen 25.62% from 52-week high of 1,8150 recorded on September 2023. 

Also Read: Multibagger stock: Oriana Power share price soars over 1000% in 8 months. What's driving this green energy stock?

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

 

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Published: 19 Apr 2024, 02:48 PM IST
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