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In today's chart ofthe day we put the spotlight on a midcap stock that has performedspectacularly well. Shriram Pistons & Rings Ltd. is a Delhi-basedcompany which manufactures and sells industrial machinery parts.
The company wasearlier listed on the Delhi Stock Exchange. On June 9, 2016 it listed onthe National Stock Exchange. On the first day its market capitalisation was Rs862 crore.
In the 42 trading sessions since then, including today, the marketcapitalisation of the company has risen to over Rs 6,000 crore. This, for acompany whose revenue in the financial year 2016-17 was just over Rs 1,400 crore and net profit over Rs 92crore.
Of the total 42sessions, Shriram Pistons has hit upper circuit of 5 percent for 41straight sessions. Today is the first day in 42 trading sessions, that thestock corrected and hit the 5 percent lower circuit.
Shriram Pistonslisted on the NSE at Rs 385, and is currently trading at Rs 2,689.70per share.
The stock has risen600 percent in just 2 months.
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