Multibagger Stock: Investors became rich in 4 years, ₹ 21 lakhs of ₹ 50,000, brokerage opinion

New Delhi. Every investor wants his investment to double, triple or 10 times in a short time, and for this he looks for good returns options in short term. There are also some such shares that give bumper returns to investors in a short time. One of these is the shares of Pitti Engineering, which has reduced the money of investors about 42 times in the last 4 years. Pitti Engineering is the largest company in India to manufacture electrical steel lamination, motor core, sub-assembly, dy-caste rotors and press tools. The company has been listed in the stock market since 1994.

Brokerage house DR Chowkse hopes that the Pitti engineering stock will increase further. Brokerage has given a target price of ₹ 1552, advising to buy this multibagger share. On 1 October 2020, the price of Pitti Engineering shares on BSE was only ₹ 30.75. On 1 October 2024, the stock closed at ₹ 1289.65. In this way, during this time, the stock has given heavy returns of 4000%.

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₹ 50,000 became ₹ 21 lakh
If someone had invested ₹ 50,000 in the multibagger stock of Pitti Engineering 4 years ago, then today the investment has increased to ₹ 21 lakh. Similarly, the investment of ₹ 1 lakh has now become equal to ₹ 42 lakh. Even in the last one year, the shares of Pitti Engineering have given double returns to investors. In the last 12 months, this stock has given 116 percent returns to investors. So far in the year 2024, the stock has increased by 81% and about 60% in the last 6 months. The company’s market cap has been more than Rs 4500 crore. The 52-Veek high of the Pitti Engineers stock is Rs 1447 while the 584.25 of the 52-week is Rs 584.25.

QIP of Rs 360 crore

In July this year, Pitti Engineering introduced a qualified Institutional Placement (QIP) of Rs 360 crore. In FY 2024, the company’s consolidated revenue stood at Rs 1201.59 crore, while the net profit was Rs 90.19 crore.

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