In just five trading sessions, the stock rose nearly 13 percent.
This multibagger stock has given investors a multibagger return of 139.70 percent in the last six months.
The packaging paper segment has seen good growth for the company due to increased demand from e-commerce, food and food products, FMCG and pharmaceutical sectors.
New Delhi. Stock market volatility continues in 2022. Despite the ongoing volatility in the market, some stocks are earning investors a lot. West Coast Paper Mills (WCPM) shares have been included in the list of stocks that have given multibagger returns in 2022. WCPM’s multibagger shares have returned 144% to investors during this period.
This share has seen a huge jump on the first day of the week as well. On the NSE, the stock rose 4.32 percent to Rs 578. Intraday, the stock rose 5 percent to Rs 585 today. This is its new 52-week high. West Coast Paper Mills stock hit a 52-week low of Rs 217.
Also Read- Gold Price Today: Gold price down by Rs 315, silver down by Rs 635, check prices before buying
Giving multibagger returns
West Coast Paper Mills stock has been delivering multibagger returns for a long time. In just five trading sessions, the stock rose nearly 13 percent. The paper’s stock jumped 56 percent in a month. Similarly, this multibagger stock has given investors a multibagger return of 139.70 percent in the last six months. The stock is up 144 percent year to date in 2022; Similarly, this stock has given investors 160 percent profit in one year.
Why share run?
Money control According to a WCPM report, WCPM is involved in diversified product manufacturing and has expanded its presence in the writing and printing segment, security and premium grade paper. Its introduction in the market is becoming a special company. The packaging paper segment has seen good growth for the company due to increased demand from e-commerce, food and food products, FMCG and pharmaceutical sectors. Demand is expected to grow by 11-15 percent on an annual basis in the current financial year as schools, colleges and office spaces gradually open up. Due to these reasons the shares of the company are continuously strengthening.
Read more – Japanese cut back on alcohol and economy falters, government tells youth – drink up
Net profit increased five times
In the April-June quarter of FY 23, the company registered a consolidated net profit of Rs 208.95 crore, registering a growth of more than five times. The figure was Rs 39.20 crore in the same quarter last year. The company benefited from strong operational performance. Its net profit rose 49 percent to Rs 140.51 crore on a quarterly basis.
(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you want to invest in any of these, please consult a certified investment advisor first. News18 is not responsible for any profit or loss you may incur. )
Tags: money making tips, Multibagger stock, capital market
First Published: August 23, 2022, 08:00 IST