People pounced on this multi-bagger stock as soon as the brokerage suggested buying it.

New Delhi. Shares of power stock, Skipper Limited, rose sharply today. The multi-beagger shares surged 15 percent intraday to hit a high of Rs 483.50 on the NSE. The stock saw heavy buying after brokerage firm Axis Securities assigned a ‘buy’ rating to Skipper’s shares. With this increase, the company’s market capitalization rose to Rs 5,305 crore. Shares of Captain are trading above the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day and 200-day moving averages, indicating strength for the stock.

Skipper Limited is one of the leading companies in Power Transmission & Distribution and Polymers sectors. With a capacity of 62,000 MTPA, Skipper is a leading brand in the polymer sector (pipes and fittings) in India. The company also builds telecom towers and railway structures. It is active in three core sectors – engineering (68% of FY24 revenue), infrastructure (18%), and polymers (14%). Skipper Limited is known for its high quality and cost effective solutions in power transmission, telecom towers and polymer sectors. The company does business in more than 40 countries, including Latin America, Europe and Africa.

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The amount doubled in a year.
Shares of Captain Ltd touched a 52-week low of Rs 197.35 on October 25, 2023, but have gained 104% so far in 2024. It has registered a growth of 122% in the last one year and 570% in the last two years. In five years, this multi-bagger share has given investors an impressive return of 781%.

A share can go up to Rs 600.
Brokerage firm Axis Securities has given ‘Buy’ rating to Skipper Limited share. The brokerage has set a target price of Rs 600 for the multi-beagger share, which is about 44% higher than the current price. “Skipper Limited is India’s largest and the world’s only integrated transmission and distribution (T&D) company, uniquely positioned to take full advantage of growing demand in the region,” said Axis Securities. Technically, Skipper’s Relative Strength Index (RSI) stands at 50.8, which suggests that the stock is neither in the overbought nor oversold zone. The stock has a Beta of 1.6, indicating its high volatility.

(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).

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