Shares of multibagger Maan Aluminium Ltd hit upper circuit of 20% in the afternoon session amid a rally in the broader market today. The microcap stock zoomed 20% to a high of Rs 249.15 against the previous close of Rs 207.65 on BSE. Maan Aluminium stock opened higher at Rs 225.85 against the previous close of Rs 207.65 on BSE. The stock of the metal maker has rallied 1000% in the last three years. The metal stock, which closed at Rs 21.35 on June 4, 2020 rose to a high of Rs 249.15 on the BSE today (June 5, 2023). The stock has risen 21% in the last three sessions.
An amount of Rs 1 lakh invested in the shares of Maan Aluminium three years ago would have turned into Rs 11.66 lakh today. In comparison, Sensex has risen 83 per cent during the period.
The stock has gained 103.64% in a year and risen 50% in 2023.
In terms of technicals, the relative strength index (RSI) of the Maan Aluminium stock stands at 71.3, signaling it's trading in the overbought zone. Maan Aluminium shares have a beta of 1.2, indicating high volatility in a year. Maan Aluminium shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The share has climbed 37% in a month. Total 0.41 lakh shares of the firm changed hands amounting to a turnover of Rs 1 crore on BSE. Market cap of the firm rose to Rs 336.88 crore on BSE.
Financial Performance
In the March 2023 quarter, the firm reported a 77% rise in profit to Rs 14.46 crore against Rs 8.17 crore profit in the corresponding quarter of previous fiscal. Revenue climbed 103.78% to Rs 262.87 crore in the March quarter against Rs 129 crore in the March 2022 quarter. Operating profit zoomed 85.55% to Rs 20.80 crore for the quarter ended March 2023 against Rs 11.21 crore in the corresponding quarter of the previous fiscal.
On an annual basis, net profit zoomed 127% to Rs 50 crore for the fiscal ended March 2023 against Rs 22 crore for the fiscal ended March 2022.
Revenue climbed 42.21% to Rs 813.85 crore in the March 2023 fiscal against Rs 572.29 crore for the fiscal ended March 2022. The firm announced its earnings on May 30.
About the Company
Maan Aluminium Limited is an India-based company, which is engaged in the business of manufacturing of aluminum profiles and other related activities. The company's principal activity is engaged in the manufacturing of basic precious and other non-ferrous metals.
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