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De Nora India – Mukul Agarwal Multi-bagger Portfolio Stock Zoomed 12%

15 May 20232 mins read by Angel One
This stock has experienced substantial buying activity, resulting in impressive returns of over 880% within a span of just 3 years.
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On Monday, shares of De Nora India zoomed more than 12% to trade on a new 52-week high level of Rs 1625 apiece on BSE. The scrip witnessed massive spurt in volume by more than 2.05 times.

In Q4FY23, the standalone net sales of the company shot up by more than 28.97% from last year’s same quarter to Rs 27.63 crore. The EBITDA level of the company stood at Rs 16.70 crore, witnessing a growth of 15% from March 2021 quarter. The net profit of the company zoomed by 21.99% from the corresponding quarter last year to Rs 12.32 crore.

Param Value Investments, headed by the renowned investor Mukul Agarwal, made a purchase on May 11, 2023, acquiring 27,242 shares at an average price of Rs 1296.04. As per the official shareholding pattern of the company, Mukul Agarwal currently possesses a pre-existing stake of 1.37% in the company. 

The company recently disclosed to the exchange that it secured a contract from Reliance Industries for the recoating of elements. The recoating process for Anode & Cathode Pans is required to be finished within 30 days upon receiving the elements and any necessary repairs and recoating must be completed within a maximum of 45 days. The total value of the order amounts to Rs 48 crore. 

De Nora India Ltd is a subsidiary of the renowned multinational corporation De Nora Group based in Italy. The company specializes in the production, renovation and distribution of Cathode & Anode, Electro chlorinators and Cathodic Protection Systems. The company’s diverse range of products and services cater to various industries and markets such as the Chlorine & Caustic industry, Bleaching Chemicals, Agriculture & Livestock, water treatment and surface finishing. 

This stock has experienced substantial buying activity, resulting in impressive returns of over 880% within a span of just 3 years. On a year-to-date basis, the stock has seen significant buying and has surged by over 140%. Moreover, in the past month alone, the stock has demonstrated a remarkable rally of 49%, indicating a sustained bullish trend. Keep a close eye on this trending multibagger stock. 

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