This stock made investors rich, gave more than 155% return this year

Multibagger Stock: Mold-Tek Packaging is a leading name in the rigid packaging business. The company manufactures decorative packaging containers for the Paint, Lubricant, FMCG and Foodstuffs (F&F) industry. The company has reported strong Q2FY22 revenues, led by the paint segment.

During the second quarter of the current financial year, Moldtec’s revenue grew by about 34% year-on-year to ₹160 crore, with the paint segment registering a 48% year-on-year revenue growth. The overall volume growth stood at 8% on a year-on-year basis. , Its net profit after tax grew 31% year-on-year (YoY) to around ₹18 crore which is supported by higher revenue.

This multibagger stock has risen over 157% so far this year (Y-o-date), while it is up over 170% in the one-year period. The share price of Mold-Tech has risen nearly 3.3 times in the last five years, from ₹215 in November 2016 to a level of around ₹719 per share in November 2021.

What about brokerage?
Domestic brokerage and research firm ICICI Securities has maintained its buy rating on Mold-Tech Packaging shares with a target price of ₹850 per share with a time period of approximately twelve months.

According to the brokerage, revenue is expected to increase from capacity addition, new launches (entry into pharma packaging) and rising wallet share from existing clients, which can act as a major trigger for future stock price performance.

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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