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Stock of this chemical company created panic, share price increased by 70% in a month

Multibagger Stock Tips: The share price of Tanfac Industries Limited was seen at an all-time high in Tuesday’s trading session, even as the Frontline indices rose to fresh highs. Tanfac Industries is a chemical company which is becoming a dominant multibagger. Its share price has risen more than 146 per cent in 2021 alone, while shares of Tanfac Industries have gained 70 per cent in one month.

Tanfac Industries is showing strong financial signals and has a high ROE of 59.37 per cent which reflects the efficiency of the management. The company has registered healthy long-term growth with operating profit growing at an annualized rate of 68.28 per cent.

The company registered a profit of 723.26 percent in the June 21 quarter. Net sales for the quarter were reported at Rs 90.27 crore, while PBDIT was reported at Rs 29.17 crore. The stock has been able to trade at the highest level with excellent results, better ROE and bullish momentum.

what is this company
Tanfac Industries Limited is a joint sector company promoted by Aditya Birla Group and Tamil Nadu Industrial Development Corporation (TIDCO). The manufacturing facilities are spread over 60 acres in the chemical complex of SIPCOT Industrial Estate, Cuddalore. Tanfac is engaged in manufacturing of Anhydrous Hydrofluoric Acid, Sulfuric Acid, Oleum.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.

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