Multibagger Stock: This small-cap waste management company's shares doubled in 14 sessions – here's what investors should know
The shares of the waste management company were listed on BSE at a premium of over 27 per cent to Rs 160.25 per share against the issue price of Rs 126 per share. The counter has gained over 188 per cent since the issue price of the company.
Multibagger Stock: This small-cap waste management company – EP Biocomposites' share price has more than doubled since listing on September 13, 2022. The stock has surged over 127 per cent in the last 14 sessions and witnessed a profit booking after hitting a new high during Friday’s session.
The shares of the waste management company were listed on BSE at a premium of over 27 per cent to Rs 160.25 per share against the issue price of Rs 126 per share. The counter has gained over 188 per cent since the issue price of the company.
On Friday, the stock hit a new high of Rs 364 per share on the BSE post hitting an upper circuit for 14th straight session. The stock had been hitting 10 per cent upper circuit till yesterday. At around 02:40 PM, the stock was trading 5 per cent lower to Rs 329.65 per share on the BSE amid profit booking.
Those who had been allotted the shares during public offer and those invested post its debut on exchanges have received bumper returns in the last 14 sessions.
EP Biocomposites has attracted foreign portfolio investors as the Singapore-based Nav Capital VCC- Nav Capital Emerging Star Fund picked up 12,000 shares of the company at Rs 224.15 apiece, September 21, 2022, bulk deal data showed on NSE.
FII investment in this small-cap company could be attributed as the reason for the surge in the stock price.
The company is engaged in the business of manufacturing and supplying of fibre reinforced polymers products such as door shutters, frames, bio toilets and allied products for construction and industrial applications which meet customer requirements.
The company got into the high potential sector of wastewater recycling in 2021. It focuses on giving sanitation solutions to those who do not have access to toilets as well as to those who have toilets but face trouble treating and managing waste through septic tanks.
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