Multibagger alert: Up by 153% in just 10 months, shares of this company made people 'lakhpati'

The stock has been consistently gaining for a week and has delivered 19 per cent returns in just one month!

With a market capitalisation of Rs 201 crore, the shares of Mahalaxmi Rubtech soared 35% within a period of just six months! It witnessed a spurt in the volume of 2.5x today. This Multi-bagger stock surged 153% on a YTD basis!

Mahalaxmi Rubtech Ltd is a textile manufacturing company and a part of the Mahalaxmi Group of Industries. It is engaged in the manufacturing & marketing of products of traditional as well as technical textiles. Mahalaxmi Rubtech Ltd is headquartered in Ahmedabad (India) and all its facilities are located within 50 km of each other. Its promoters - Parekh Group owns 66.71% of the total shareholding while 33.22% of the shareholding is held by the public.

The company recently announced its quarterly results for Q1FY23 wherein, its net sales soared 44% to Rs 51.5 crore as compared to Rs 35.7 crore in Q1FY22. The company has also reported an increase of 25% in its operating profit in Q1FY23, compared to the operating profit in Q1FY22.

Mahalaxmi Rubtech Ltd is in the process of commissioning a project for the manufacturing of textile print media substrates for use in digital banners as well as signage printing. The company also plans for setting up a new plant and machinery for technology upgradation & expansion under Technology Upgradation Fund Scheme (TUFS).

Watch out for this multibagger stock in the upcoming trading sessions!