135% return in 1 Year: Shares of precision engineering major hit all-time high - details
Mumbai-based BFIL manufactures forged metal components that find applications in sectors like marine and industrial, agricultural and automotive.
Shares of precision engineering major Balu Forge hit an all-time high of Rs 379.85 - a surge of 6.95 per cent from the previous close of Rs 355.15 on the BSE. The counter opened in green at Rs 359.35 and gained further amid buying in the smallcap space. Last seen, the counter held firmly in green at Rs 368.25.
Mumbai-based BFIL manufactures forged metal components that find applications in sectors like marine and industrial, agricultural and automotive. The shares of the company have given a multibagger return of 129 per cent in one year and 396 per cent in two years. The counter has gained over 48 per cent so far this year.
The surge in share price comes even as benchmark equity indices declined in early trade on Friday amid profit-taking after a record rally in the last few trading sessions and selling in blue-chips HDFC Bank and ICICI Bank.
The 30-share BSE Sensex plunged 504.27 points to 79,545.40. The NSE Nifty slipped 105.30 points to 24,196.85.
Among the 30 Sensex companies, HDFC Bank, Mahindra & Mahindra, Titan, Tata Steel, ICICI Bank, IndusInd Bank, Power Grid, and Kotak Mahindra Bank were the major laggards.
Sun Pharmaceuticals, JSW Steel, Larsen & Toubro, Hindustan Unilever, Reliance Industries, Infosys and Tech Mahindra were among the gainers.
Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday, as they purchased shares worth Rs 2,575.85 crore, according to exchange data.
"FIIs' huge long position in the index derivatives and strong buying in the cash market can support the market in the near term. An important trigger may come from the US jobs data expected on Friday.
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01:17 PM IST