254% return in 1 year: This defence stock hits new 52-week high

Defence stock PTC Industries hit a new 52-week high on Wednesday. The counter opened in the green at Rs 14,964.35 against the previous close of Rs 14,699.75. The counter surged further to hit a new 52-week high of Rs 15,650.  This is a surge of 6.46 per cent from the previous close. The 52-week low of the stock is Rs 3,825.

Soon, the stock pared all the gains due to a sharp profit booking. Last seen, it was trading at Rs 14,480 - down by 1.49 per cent.

PTC Industries Share Price History

The shares of PTC Industries have surged over 254 per cent in one year. The stock of the company has given a multibagger return of over 927 per cent in two years. It has already gained over 117 per cent so far this year. 

Meanwhile,  equity benchmark indices tumbled after hitting their fresh record high levels in early trade on Wednesday, with the Sensex dropping over 900 points, dragged by M&M and IT stocks along with a largely weak global market trends.

Profit-taking after a record-shattering rally also played spoilsport for the markets.

The 30-share BSE Sensex climbed 129.72 points to hit a new all-time high of 80,481.36 during the opening trade. But, soon the benchmark retreated and tumbled 915.88 points to 79,435.76 during the late morning trade.

The NSE Nifty also hit its fresh lifetime high of 24,461.05 in opening deals but pared all gains and declined 291.4 points to 24,141.80.

Among the Sensex pack, Mahindra & Mahindra tanked over 7 per cent. HCL Technologies, TCS, Tata Steel, Kotak Mahindra Bank and State Bank of India were other big laggards.