Radhakishan Damani mulitbagger stock: This defence company shares register 112% returns in one year

This Radhakishan Damani-owned mutlibagger stock has more than doubled in a year from Rs 155 to Rs 330 per share levels on the exchanges. Shares of Astra Microwave hit a new record high of Rs 332 apiece, after gaining nearly 5.5 per cent on the BSE intraday on Wednesday’s trading session. 

The stock of aerospace and defense company reported over 112 per cent returns in the last one year. On Wednesday, it closed almost 5 per cent higher to Rs 330 and Rs 329.5 per share on the BSE and NSE against 0.09 and 0.16 per cent rise in the BSE Sensex and Nifty50 at the close. 

Billionaire investor Radhakishan Damani, who owns retail chain Avenue Supermarts under the brand DMart, holds 8,96,387 equity shares or 1.03 per cent stakes in the Astra Microwave, as per the June 2022 shareholding pattern of the company available on the exchanges. 

The renowned investor publicly holds 14 stocks with a net worth of over Rs 177,185 crore as of August 24, 2022, according to the stock analysis website trendlyne.com. 

The counter has jumped almost 68 per cent in the last six months, while it gained over 34 per cent in the last one month and around 16 per cent in the past five sessions on the exchanges.  

On the back of Atmanirbhar Bharat theme, the government has been aiming to make indigenious defence system. In this regard, the Ministry of Defence earlier in April 2022 had come out with a third list of indigenisation items. 

The government notified the third list comprising 101 weapons/systems/platforms/equipment. The list builds on the first list of 101 items and the second list of 108 items that were promulgated on August 21, 2020, and May 31, 2021, respectively. 

Incorporated in 1991, Astra Microwave Products Limited (AMPL) mainly designs, develop and produce high-end RF (Radio Frequency) and Microwave subsystems and systems for strategic applications.