Multibagger stock rises 900% in three years; closes near 52-week high

Shares of Mahalaxmi Rubtech Ltd have rallied 915% in the last three years. The microcap stock, which closed at Rs 29.85 on April 9 rose to a high of Rs 306.45 on the BSE today. An amount of Rs 1 lakh invested in the shares of Mahalaxmi Rubtech three years ago would have turned into Rs 10.26 lakh today. In comparison, Sensex has risen 93.06 per cent during the period.  

Mahalaxmi Rubtech stock closed 5.39% higher at Rs 303.25 today.  Earlier, the stock hit an intraday high of Rs 306.45, rising 6.5% on BSE. It is now 2% away from the 52 week high of Rs 309.35 hit on April 5, 2023.

In terms of technicals, the relative strength index (RSI) of the stock stands at 55.3, signaling it's neither overbought nor oversold. Mahalaxmi Rubtech shares have a beta of 0.7, indicating low volatility in a year. Mahalaxmi Rubtech shares stand higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.  

The share has climbed 130% in a year and gained 15% this year. Total 0.16 lakh shares of the firm changed hands amounting to a turnover of Rs 48.72 lakh on BSE. Market cap of the firm rose to Rs 322.06 crore on BSE.

16 promoters held 64.80 per cent stake in the firm and 4886 public shareholders owned 35.20 per cent for the quarter ended March 2023. Of these, 4621 public shareholders held 15.27 lakh shares or 14.38% stake with capital up to Rs 2 lakh. Only 29 shareholders with 12.14% stake held capital above Rs 2 lakh for the quarter ended December 2022.

About the Company

Mahalaxmi Rubtech manufactures textiles. The company produces rubber textile printing blankets, air cells for conservator tanks, hydraulic seals, and rubber coated fabrics.

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