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Business News/ Markets / Stock Markets/  Multibagger stock: Small-cap stock below 100 hits upper circuit after receiving Reliance Industries' order
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Multibagger stock: Small-cap stock below ₹100 hits upper circuit after receiving Reliance Industries' order

Multibagger stock: The small-cap stock has bagged a ₹29 crore order from the Indian corporate giant Reliance Industries

Multibagger stock: Small-cap stock below ₹100 has delivered a 400% return to its shareholders in one year. (Photo: Pixabay)Premium
Multibagger stock: Small-cap stock below 100 has delivered a 400% return to its shareholders in one year. (Photo: Pixabay)

Small-cap stock below 100: Shares of Gujarat Toolroom Ltd are one of the multibagger stocks that the Indian stock market has produced in the last few years. In one year time, this small-cap stock has surged from around 11.20 to 55.95 on BSE, delivering around 400 percent return to its shareholders. However, the small-cap stock under 100 was in the news after the company declared to have received an order from Reliance Industries Ltd (RIL). The small-cap company informed Indian stock market exchanges about the RIL order, which is worth 29 crore.

Reliance order to Gujarat Toolroom

The small-cap company informed Indian exchanges about the RIL order saying, "Gujarat Toolroom Limited is pleased to announce that it has recently secured a significant order worth 290 million ( 29 crore) from Reliance Industries Limited for construction supplies. This substantial order underscores the trust and confidence that Reliance Industries Limited has placed in GTL's capabilities and quality of service."

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The company anticipates more such orders from Reliance Industries Limited in the upcoming weeks, further solidifying the partnership between the two entities. Moreover, GTL expects additional orders from various clients in the coming months, which will significantly contribute to the company's revenue and profit growth.

Gujarat Toolroom share price history

As per the information available on the BSE website, Gujarat Toolroom shares traded ex-split on 6th March 2023 in a 1:10 ratio. So, it is around one year since the stock split. In this period, the small-cap multibagger stock has risen from 11.20 to 55.95 per share level, logging to the tune of 400 percent appreciation in this time. In one month, this multibagger stock has surged from around 45 to 55.95 apiece, logging around 24 percent rise in this time.

Likewise, in the last six months, this small-cap multibagger stock has risen from around 13.20 to 55.95 per share level, clocking nearly 325 percent appreciation in this time horizon.

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 decisions.ls

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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. Download The Mint News App to get Daily Market Updates.
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Published: 05 Mar 2024, 02:31 PM IST
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