Multibagger Stock: Shares of Amber Protein Industries continue to rise. On Friday, the stock closed at Rs 730 with an upper circuit of 5 per cent on the BSE. The shares traded at their all-time levels and remained on the upper circuit for the 58th consecutive day. In the last three months, the edible oil company’s stock has climbed from Rs 45 (June 23, 2022 price) to Rs 730. That is, in just three months, it has given a strong return of 1,500 percent. In comparison, the S&P BSE Sensex has gained 12 per cent during the same period.

company business
Amber Protein Industries was incorporated on 31st December 1992 with the objective of manufacturing Edible/Non-Edible Oil Cakes and ‘D’ Oil Cakes. Presently the company is engaged in the business of refining cotton sheds including oil. In addition, for the resale business, the company buys and packs Refined Cottonseed Groundnut Oil, Refined Sunflower Refined Maize Oil and Soyabean Oil. Presently, Amber Proteins is traded under the ‘XT’ group. XT includes all stocks listed on BSE only. These are on a trade-to-trade basis. These companies have at least medium market cap.

Also read- Amazing IPO: Shares of this company can be listed at 56% premium, listing date is on Monday

74.97 stake with promoters
Amber Protein has a low equity base with total outstanding shares as on 30 June 2022. Promoters hold 74.97 per cent stake. While another 25.03 percent is held by individual shareholders (24.42 percent) and others (0.61 percent).

Also read- Foreign investor bought lakhs of shares of this company, invested ₹ 64.19 lakh, the price reached beyond ₹ 9, business worldwide

During the financial year 2021-22, Amber Proteins had refined 21,239.96 MT of cotton seed oil at its refinery. It was 27,457.91 MT last year. The company had also procured and packaged 2,134.92 metric tonnes of refined groundnut oil, refined sunflower, refined corn oil, mustard oil and soybean oil for resale.

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By Dipak

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