1500% return YTD! Multibagger stock hits upper circuit after receiving order from Reliance Industries | Stock Market News
Bharat Global Developers (BGDL) share price was locked in at 5% upper circuit limit on Thursday after the company announced the receipt of an order from Reliance Industries Ltd (RIL). BGDL stock price jumped 5% to ₹903.40 apiece on the BSE.
Bharat Global Developers said it has been awarded an Infrastructure Engineering Order valued at ₹120 crore from Reliance Industries, which involves the design, engineering, and construction of a Full-Fledged High Capacity Fluidised Catalytic Cracker (FCC) unit.
The time period by which the order is to be executed is within 6 months.
“The contract involves the construction of a Full-Fledged High-Capacity Fluidised Catalytic Cracker (FCC), a sophisticated refinery unit that maximizes the breakdown of hydrocarbons to create high-value products like gasoline and diesel. The FCC project will play a pivotal role in Reliance’s refining operations, aligning with the industry’s rising demand for advanced, efficient processing facilities,” BGDL said in a release.
BGDL Stock Price
Bharat Global Developers share price has hit a 5% upper circuit for the seventh consecutive session on November 7, delivering a weekly return of over 27%. This multibagger smallcap stock has surged more than 383% in the past three months and 504% over six months, delivering a remarkable year-to-date (YTD) return of over 1,556%.
Volumes traded of Bharat Global Developers shares also spiked on Thursday. A total of 51,000 equity shares of Bharat Global Developers were traded on both the stock exchanges, BSE and NSE combined, on November 7, as compared with its one week average volumes of 29,000 shares.
On BSE, BGDL stock hit a 52-week high of ₹1,069.60 apiece on October 17, 2024, and a 52-week low of ₹16.14 apiece on November 9, 2023.
At 1:40 pm, BGDL shares were still locked at 5% upper circuit at ₹903.40 apiece on the BSE.
