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Stock in Focus: Balu Forge stock is one of those multibagger stocks (Balu Forge Industries Ltd) which has given excellent returns this year 2023. This multibagger stock has risen from around ₹66.50 per level to ₹228.70 per level in year-to-date (YTD) time. That means it has returned more than 225 percent during this period. However, some large institutional investors still see the stock bullish. Singapore-based foreign institutional investor (FII) Sixteen Street Investing has invested in this multibagger stock. According to information available on BSE website, FIIs have bought 2.32 percent stake in this multibagger stock in recent sessions.
25 lakh new shares bought
Singapore-based FII – Sixteen Street Investing bought 2.5 lakh shares of the company paying ₹183.60 per equity share, according to an exchange filing. This means that the Singapore-based FII holds shares worth ₹45.90 crore in Balu Forge. After investing ₹45.90 crore in this multibagger stock, FIIs now hold 2.32 percent of the total paid-up capital of the multibagger stock. FIIs bought these shares through preferential share allotment through the company’s share allotment committee.
This company got an order of ₹ 5000 crore, Yogi government gave the work, the price increased by 30%
Stock position of the company
Balu Forge is one of the multibagger stocks lined up by Dalal Street for 2023. Shares of Balu Forge hit a fresh 52-week high of ₹228.70 on the BSE today. The stock has returned 25% to its investors in the last one month. In the last six months, this multibagger stock has risen from around ₹86.25 to reach a level of ₹228.70. It has returned more than 155 percent during this period. Over the past one year, this multibagger stock has almost doubled investors’ money, returning over 290 percent to its shareholders.