2 multibagger stocks stuck in the top circuit after gaining over 500% year to date

After the Reserve Bank of India (RBI) hiked the benchmark rate by 50 basis points on August 5, national indices ended the day positively. The Nifty was up 15.5 points or 0.09% to 17,397.5 at the close, while the Sensex was up 89.13 points or 0.15% to 58,387.93. Markets saw a bullish week that ended for the third consecutive week, with gains of around 1.4% each for Nifty and Sensex. However, analysts believe that concerns, including geopolitical concerns, turmoil in the global economic sector and the dollar index, will have a significant impact on the market. Here are two stocks that are stuck in the upper circuit and have produced a multibagger yield of over 500% year to date in 2022, despite market conditions where NIFTY and Sensex are down 1.29% and 1, respectively. 34%.

Alliance Integrated Metaliks Ltd

The stock locked in an upper circuit limit of 26.00 on Friday, with an upward gap of 9.94% closing, after opening at 23.20 per share. Compared to the 20-day average volume of 122,879 shares, 85,744 shares were traded in total, with a trading value of 22.29 lac. The share price has skyrocketed 2.04 from 12 October 2021 a 26:00 on August 5, 3:30 IST in the last year, resulting in a multibagger return of 1,174.51 percent. The share price has risen from 2.84 on January 3, 2022, at the current price level on a year-to-date basis, representing a multibagger yield of 815.49% so far in 2022. The share price has risen from 6.31 on February 8, 2022, at the current level, which represents a multibagger yield of 312.04%.

On BSE, the stock hit a 52-week high 37,80 of 25/04/2022 and a minimum of 52 weeks of 2.04 dated 12/10/2021 which indicates that at the current price of 26.00 the stock is trading 31.21% below the 52-week high and 1174% above the 52-week low. With a market capitalization of Rs. 301 Credit, Alliance Integrated Metaliks Ltd. is a small cap company that manufactures BTG power plants, BOP support structures, welded / riveted steel beams, sugar mill components, turnkey manufacturing solutions for sugars, cement plants and petrochemical plants, composite deck columns & beam solutions in steel or composite constructions, gantries and heavy duty crane beams made of PEB. The company has a promoter holding of 71.35% for the quarter ended June 2022, stable from September 2019. FII holdings reached 1.55%, the highest to date, while public holdings have reached 27.10%, the lowest level since September 2019.

Baroda Rayon Corporation Ltd

For the past 44 sessions, Baroda Rayon Corporation Ltd. shares have been nearing the upper limit of the circuit. The title opened at Rs. 35.30 per share on Friday and reached a new high at the same level on Friday, approaching the circuit’s upper limit of Rs. 37.05 with an upward gap of 4.90 per cent at the close. Compared to the 20-day average trading volume of 1,845 shares, the total number of shares traded on Friday was 53. The company’s market capitalization on Friday was 80 Credit The share price has skyrocketed 4.64 of 1 June 2022, a 35.30 as of now, representing a 660.78% multibagger return so far in 2022.

The stock has maintained its multibagger gain of 660.78% over the past six months and has produced a multibagger return of 163.63% over the past month. On BSE, the stock had reached a high of 52 weeks 35.30 of 05/08/2022 and a minimum of 52 weeks of 4.42 dated 01/06/2022, which means that at the current price level the stock is trading 698.64% above the 52-week low. For the quarter ending June, the company’s promoter holding was 47.54%, which hasn’t changed since September 2019. Domestic Institutional Investors (DII) hit 1.48% for the quarter, which is It was the lowest since September 2019, and audience participation was 50.97 percent, which hasn’t changed since September 2019.

Commenting on Nifty’s upcoming performance, Amol Athawale, Vice President of Technical Research, Kotak Securities Ltd said, “Although the market was volatile, it moved in a small range as investors traded cautiously after the recent recovery. , the good thing was that the benchmarks managed to rebound in recent trading to go green. With the excess of monetary policy now behind us, the geopolitical tension between China and Taiwan will be at the center, as any flare-up in the region could lead to panic situations around the world. Technically, on the weekly charts, the index has formed a bullish candle. In addition, the daily and intraday charts indicate the continuation of non-directional activity in the near future. The short texture of the market is still on the bullish side, but a new bullish rally is only possible after the breakout level of 17500. Above it, the index and it could go up to 17600-17750. On the other hand, below 17500, the index would test the 17250-17200 level again and if the downside continues, it could correct to 17050-17000 “.

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