Circuit-to-circuit stock: 2000% returns in YTD! Multibager stock hits upper circuit despite stock market crash | Stock Market News
Shares of Bharat Global Developers (BGDL) were locked at the 5% upper circuit limit for the third consecutive trading session on Friday, December 13, reaching ₹1183 per share. This increase occurred despite the broader market experiencing significant declines.
The surge in BGDL’s stock price followed the announcement that its subsidiary secured an annual supply contract worth ₹1,650 crore with Tata Agro & Consumer Products. Under this agreement, BGDL will supply a range of premium agricultural commodities, including tea leaves, coffee beans, organic pulses, coconuts, groundnuts, mustard and sesame seeds, as well as premium dry fruits such as almonds, cashews, nutmeg, and walnuts, according to the company’s regulatory filing.
The supply will be executed over the next 12 months in a phased manner, ensuring timely delivery to Tata Agro.
“The ₹1,650 crore contract is a testament to BGDL’s operational efficiency and market credibility. It also marks a strategic step toward expanding our footprint in the agricultural sector and diversifying our revenue streams. With a robust order book now exceeding ₹1,500 crore, including significant contracts with Reliance Industries and McCain India Agro, BGDL is well-positioned for accelerated growth. These developments highlight our ability to forge meaningful partnerships with some of the most respected names in the industry, driving sustainable and profitable growth,” the company said in its Thursday regulatory filing.
The company expects this partnership with Tata Agro to significantly enhance its top line and bottom line, contributing positively to its overall financial performance, as it expects service fees from this contract to yield margins between 11% and 14%.
“The steady demand for high-quality agricultural commodities aligns with our long-term vision of becoming a leading player in the agri-commodities sector. By leveraging our extensive expertise, efficient supply chain, and commitment to excellence, BGDL continues to create value for its stakeholders while exploring new opportunities for growth and collaboration,” the company said.
Stock delivers 2000% return in 2024
Shares of the company have surged from ₹56 per share to the current trading price of ₹1183 in 2024 so far, resulting in an impressive return of 2000%.
Over the past year, the stock delivered a return of 2647%, and in the last two and three years, it has risen by 7620% and 8353%, respectively.
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