Smallcap Multibagger Stock Under ₹300 – The Nifty 50 Index traded sideways for most of the day, later breaching the opening mark of 17,653.35 and closing the day at 17,618.75. Down 0.23% on an intraday basis.
While Greenpanel Industries, a smallcap multibagger stock with a market capitalization of ₹3,360 Crore, rose more than 14.03% today.
Intraday Share Price Movement Of Greenpanel Industries
For the last seven days, shares of Greenpanel Industries were trading under ₹300/-. The stock was trading sideways between the range of ₹280/- and ₹270/-.
Today, i.e., 19th April 2023, shares of Greenpanel Industries opened at ₹277.50/-. In the middle of the day, the stock price of Greenpanel Industries broke its nearest resistance of ₹294/- and rose to touch an intraday high of ₹318.80/-.
Compared to its previous closing price of ₹274.05/-, the share price of Greenpanel Industries rose by 14.03% and closed the day at ₹312.50/-.
Greenpanel Industries registered an above-average intraday trading volume of 5.92 million. The average weekly volume of Greenpanel Industries stands at 1.8 million.
Fundamentals Of Greenpanel Industries
For the quarter ending on December 2022, the smallcap company reported a Net Profit of ₹38 Crore.
Compared to the previous quarter of September 2022, in which Greenpanel Industries reported a Net Profit of ₹72 Crore, the company’s bottom line is down by 48% sequentially.
On a Y-o-Y basis, the company’s profits fell by 39.68%. In the December quarter of 2021, Greenpanel Industries reported a Net Profit of ₹63 Crore.
The reported Net Profit of Greenpanel Industries for FY 2022 stood at ₹240 Crore, whereas in the previous year, i.e., FY 2021, the company’s Net Profit stood at ₹69 Crore.
Smallcap Multibagger Stock Generated 2,507% Returns
On 13th May 2020, the shares price of Greenpanel Industries reached its All Time Low of ₹24/-.
An investment of ₹1 Lakh at ₹24/- per share would have fetched 4,166 shares of Greenpanel Industries.
On 29th April 2022, the stock price of Greenpanel Industries reached its recent 52 Week High of ₹625.70/-.
At the price of ₹625.70/- per share, the value of those 4,166 shares of Greenpanel Industries would be ₹26,06,666.20/-.
In less than two years, shares of Greenpanel Industries gave a return of 2507.08%. Greenpanel Industries grew investors’ wealth by 25.07 times.
Intraday Trade With ₹1 Lakh On Greenpanel Industries
After the share price of Greenpanel Industries breached its nearest resistance at ₹294/-, if a trader with ₹1 Lakh capital placed an intraday buy order at ₹295/- per share, with 3x leverage, it would have fetched 1,017 shares of Greenpanel Industries.
The trader would have made an intraday profit of ₹20,340/- by selling those 1,017 shares of Greenpanel at ₹315/- per share, thus generating an intraday return of 20.34%.
Brokerage Research Report On Greenpanel Industries
Three major brokerage houses in India have given a “BUY” rating to Greenpanel Industries.
ICIC Securities, in their latest research report on Greenpanel Industries, said – “We like GREENP for its leadership position in the fastest-growing segment of the wood panel market and maintain BUY with a rolled over Mar’24 target price of Rs532, set at a P/E of 20x FY25E.”
ICICI Securities gave a “BUY” rating to Greenpanel Industries with a share price target of ₹532.
HDFC Securities also have a “BUY” rating on Greenpanel Industries with a share price target of ₹430/- per share.
In the research report, HDFC Securities said – “We like Greenpanel for its leadership positioning in the high-growth MDF segment, superior margin, and working capital profile (most efficient among peers).”
Similarly, Yes Securities also released its research report on Greenpanel Industries after the company reported its Q3 FY23 result.
In the research report, Yes Securities stated that – “At CMP, we believe the stock is available at lucrative valuations of P/E(x) of 14.5x on FY24E EPS & major headwinds seems to be factored.”
The brokerage house also said in its research report – “Domestic demand is decent, but company’s volume off‐take was impacted owing to rising imports which stood at ~50,000cbm in Q3FY23.”
Yes Securities also have a “BUY” rating on the company. According to their analysis, the share price target of Greenpanel Industries is ₹445/-.
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