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Multibagger stock: After announcement of Q1FY23 results on Thursday, BSE listed Orissa Bengal Carrier shares have attracted strong buying interest among the market bulls on Friday. In morning session, shares of the logistics company opened with an upside gap and went on to hit intraday high of 130.40 apiece levels on BSE, logging around 16 per cent from its Thursday close of 108.70 apiece levels.

On Thursday, the multibagger logistics company reported strong quarterly earnings. In the June 2022 quarter, company earned net profit of 3.12 crore which is up by around 43 per cent compared to last year's same quarter result. Even the quarter on quarter profit is up by 43 per cent. 

“We expect our business to grow further as demand for logistic business is expected to increase in the coming year," company management said while sharing its quarterly numbers.

Orissa Bengal Carrier share price history

The stock was initially listed on BSE only but now is available for trade on NSE too. In last one month, this BSE listed stock has risen from around 120 per share levels to around 130 apiece levels, logging around 10 per cent rise in this period. In last six months, this logistics share has dipped from around 180 to 130 apiece levels, clocking near 30 per cent dip in this period. In year to date (YTD) time, this share has slipped to the tune of 65 per cent.

However, in last one year, it is one of the multibagger stocks that Indian stock market has produced in recent years. In last one year, this logistics share has risen from around 38.50 to 130 apiece levels, surging around 225 per cent in this period.

Orissa Bengal Carrier is a small-cap stock with a market cap of 259 crore. Its current trade volume is 2,68,198 however its last 20 days trade volume is only 19,805. Its 52-week high is 362.90 whereas its 52-week low is 35 per share on BSE.

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