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Indian stock markets traded in a range on Thursday ahead of the big event of US inflation data. The markets could not sustain at higher levels. However, Nifty once again closed near its major support level of 25000.
The news flow in the market is high at this time and stock-specific movements are being seen. There are some stocks that are registering continuous growth.
The share price of Kaycee Industries Ltd, a company manufacturing electric switches, has been rising for the last several days. This stock also hit an upper circuit on Thursday after a gain of 2% and closed at the level of Rs 4,801.15. This was the 90th consecutive day, while this stock hit an upper circuit. Due to the continuous upper circuit, the range of the upper circuit in the stock of KC Industries has come down to 2%.
From 05 June 2024 to 10 October 2024, this stock hit an upper circuit for 90 consecutive days and its price increased from Rs 911 to Rs 4801. It is not that there was no growth in this stock before June 2024, while this stock has been in a continuous uptrend for a year, and in the last six months, the stock of KC Industries has given investors a return of 1200% and in the last one year, a return of 1900%. That is, this stock has converted an investment of Rs 10,000 into Rs 19 lakh in just a period of one year.
KC Industries has proved to be a multi-bagger stock for investors. That is, at whatever level the investors have taken this stock in the last one year, that investor will be in profit at this time.
On 26 October 2023, the share price of KC Industries was Rs 217, but in just less than 12 months, on 10 October 2024, its price has come down to Rs 4801 and even now after 90 days of continuous upper circuit, the boom of this stock is not stopping.
KC Industries Limited is a subsidiary of Salzer Electronics Limited and is a power generation company for various industries and sectors such as power sector, panel builders, machine tool manufacturers, telecom, renewables, etc.
KC Industries Limited manufactures industrial electrical switches, mechanical counters, electric components, etc. The company has recorded a good profit growth of 27.1% CAGR in the last 5 years. KC Industries
Limited has remained a top company in the electric industry by continuously improving the quality of switches along with the development of existing products and new products as per the application. KC's manufacturing setup is located in Ambarnath, Thane. The promoter of the company is M/s Salzer Electronics Limited.
The company's clients include big names like Airtel, Indian Oil, Indian Navy, BHEL, Hitachi, Mahindra, Aditya Birla Group, Power Grid, and SAIL.
