Indian Stock Market: Success stories keep getting created in the stock market every day. The Indian stock market has helped lift millions of people from the ground up. The stock market has also seen many multibagger stocks. Today we are going to tell you about one of these. This company has converted Rs 10 thousand of investors into Rs 6 lakh in just 10 years. We are talking about HLE Glascoat, which manufactures glass line equipment and filters and dryers for various industries. The company's stock has risen almost 6000 percent in the last 10 years.
Revenue increased but the company is giving negative returns
According to the report of Economic Times, the market cap of BSE 500 company HLE Glasscoat is currently Rs 3000 crore. The company's performance in the chemical process equipment manufacturing sector has been improving in the last 10 years. However, this stock has not been performing well for the last 6 months. It has given negative returns of 12 percent in 1 month, 17 percent in 3 months and 25 percent in 6 months. The company's revenue increased by 11 percent to Rs 239 crore in the December quarter. Its customers are companies in agrochemical, specialty chemicals, dye and pigment and API and pharma industries. 67 percent stake of the company is with the promoters.
What should investors do now
According to experts, at present the stock is performing with a significant decline. Despite increasing revenue, the company's shares are going down. It is performing below average every month. The stock of HLE Glasscoat also closed at Rs 439.85, down 2.11 per cent on Friday. According to Vaibhav Kaushik, Research Analyst of GCL Broking, at present there is a possibility of further decline. If it does not stop around Rs 370, the company's stock may fall to Rs 220. Therefore, it is better to stay away from this stock for now.
Disclaimer: The information provided here is being given for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. ABPLive.com never advises anyone to invest money here.
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