3 multibagger stocks to watch next week that recently made new 52-week high
The domestic market has regained some level over the last 3 weeks, but it is still in a significant correction period. The BSE Sensex was last seen falling by 10.40% from its all-time high of 62245.43 at 55,769.23 level, with a downside gap of 0.088 per cent, while the NSE Nifty was last seen moving at 16,584.30 level, which is 10.85 per cent away from its all-time high but above 7.33 per cent from its 52-week low. Despite the fact that foreign institutional investors (FIIs) were big sellers from the domestic market to the amount of over ₹6,600 crore, the market is projected to maintain its rise despite volatility but the upcoming monetary policy meeting, and any global outcome may put the market on a negative trend. Despite the market’s weakness and significant sell-offs, here are three NSE-listed multibagger stocks to keep an eye on next week that has recently set new 52-week highs.
The shares of Meghmani Finechem closed Friday’s trading session at a market price of ₹1,427.00, down 1.29 per cent from their previous closing of ₹1,445.65. On the other hand, on 03-June-22, the stock managed to hit an intraday high of ₹1,557.90, setting a new 52-week high. The previous high for the stock was ₹1,526.00, which occurred on April 26, 2022. On 18-AUG-21, the stock hit a 52-week low of ₹387.10 and based on the last traded price of ₹1,427, it is trading 8.40 per cent below its 52-week high and 268 per cent above its 52-week low. The stock has risen from ₹405.65 on August 18, 2021 to the current level, representing a multibagger return of 250.60 per cent in 1 year. Year-to-date (YTD), the stock has increased by 82.13 percent in 2022, and Meghmani Finechem is now trading above the 5 day, 20 day, 50 day, 100 day, and 200-day moving averages. With a market capitalization of ₹5,927.34 crore, the company has a P/E of 23.45, a P/B of 8.16, and an ROE of 34.82.
The stock closed at a market price of ₹241.80 on Friday, up 0.77 per cent from its previous closing of ₹239.95. On Friday, the stock achieved a new 52-week and all-time high of Rs.249.05, outperforming the sector by 0.92 per cent. The stock’s last 52-week high was ₹243.40, which was set on 02-Jun-2022. The stock is now trading 3.08 per cent below its 52-week high and 359 per cent above its 52-week low, according to the last traded price. On the NSE, the stock has risen from ₹56.75 on June 7, 2021 to ₹241.80 last traded, resulting in a multibagger return of 326.08 per cent in a year. On a year-to-date (YTD) basis, the stock has gained ₹127.20 since the 3rd of January 2022, for a total return of about 90.09 per cent so far in 2022. The stock has risen from ₹101.70 to the present level in the previous six months, resulting in a multibagger return of 137.76 percent. Mirza International’s shares are now trading above their 5 days, 20 day, 50 days, 100 day, and 200-day moving averages.
TD Power Systems
The stock closed at ₹475.45 on Friday, down 5.00 per cent from its previous closing of ₹500.45. The stock hit a new 52-week high of ₹518.65 on 03-June-22, whereas the previous 52-week high was ₹504.00 on 02-June-2022. The stock hit a 52-week low of ₹176.05 on August 21st and is now trading at 8.32 per cent below its 52-week high and 170 per cent above its 52-week low. The shares of TD Power Systems have risen from ₹205.15 on June 7, 2021 to the current level, representing a multibagger return of 131.76 per cent. So far in 2022, the stock has gained 9.58 per cent year-to-date (YTD). TD Power Systems is currently trading higher above the 5 days, 20 day, 50 days, 100 day, and 200-day moving averages since the stock fell on Friday following 5 days of straight gains. With a market capitalization of ₹1,478 crore, the firm has a P/E of 20.94 and a P/B of 2.81, a book value per share of 169.49, and an ROE of 10.41.