Rs 2 to Rs 162: This penny stock clocked multibagger returns in a year, hit record high today 

Shares of Kothari Industrial Corporation Ltd have clocked multibagger returns from their 52 week low hit last year. The stock surged 8,922% during the period, rising from its 52-week low of Rs 1.82 on April 2, 2024 to a record high today. Stock of Kothari Industrial reached an all-time high of Rs 162.40 on BSE. In the current session, Kothari Industrial stock climbed 2% to Rs 162.40 against the previous close of Rs  159.25 on BSE. Market cap of the firm rose to Rs 689.94 crore. 

The stock has been placed under ESM: stage 2 on bourses. 

Enhanced Surveillance Measure (ESM) Stage 2 is a stricter surveillance measure for stocks exhibiting volatility or potential manipulation, implemented by SEBI and exchanges, where trading is permitted on all trading days through a Periodic Call Auction with a reduced price band of 2%. 

Kothari Industrial shares have gained 115.47% in three months and risen 92% in a year. A total of 1031 shares of the firm changed hands, amounting to a turnover of Rs 1.67 lakh on BSE. The stock hit a record high of Rs 162.40 today and fell to 52-week low of Rs 1.80 on April 2, 2024. 

In terms of technicals, the relative strength index (RSI) of Kothari Industrial stands at 84.5, signaling it's trading in the strongly overbought zone. The stock is trading higher than the 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

Retail investors raised their stake in the company during the December 2024 quarter to 53% from 41.3% in the September 2024 quarter. 

Life Insurance Corporation of India (LIC) owned a 1.89% stake in the company, while the remaining 44.1% stake was held by the company’s promoters, as per the BSE shareholding data.

Kothari Industrial Corporation is engaged in manufacturing and mixing of fertilizers, providing drone services, engaged in hotel activities, engaged in footwear and leather activities and has a network of distributors in the southern states and has developed a brand value recognized in the market place.