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The stock traded at a P/E multiple of 63.06, while the price-to-book value ratio stood at 8.49.

Supreme Industries, incorporated in the year 1942, is a Mid Cap company (having a market cap of Rs 31621.43 Crore) operating in Plastics sector.

“This initiative is a part of the company’s growth strategy to bring innovative products to the Indian markets. It will now offer a world-class range of technology-oriented drainage and plumbing solutions, segmented under the modern plumbing vertical,” the company said in a BSE filing.

Promoters held 68.69 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 11.13 per cent and 3.97 per cent, respectively.

On the technical charts, the RSI of the stock stood at 70.07.

The Relative Strength Index (RSI) is at 75.9. RSI above 70 is considered overbought. This implies that the stock may show a pullback. MACD is above its center and signal line, this is a bullish indicator.

The global brokerage firm has maintained its equal weight rating on One97 Communication, the parent firm of Paytm, with a target price of Rs 695. Management is confident of strong growth as well as achieving its adjusted EBITDA break-even target by September 23 and it does not see any significant risk to its payment margins, Morgan Stanely said.

ETMarkets analysis stocks that have not only turned multibaggers in 2022 but have consistently gained over 100% in the year 2020 and 2021 as well. We considered only companies with a market cap of over Rs 500 crore.

The stock quoted a 52-week high price of Rs 640.0 and a 52-week low of Rs 430.0.

According to NSE data National Stock Exchange (NSE), 61.19 lakh shares worth Rs 291.46 crore were traded as of 11.30 am. On BSE, 3.57 lakh shares amounting to Rs 17.07 crore exchanged hands, but block deal data is yet to come.