multibagger defense stock witnesses a multi month breakout – multibagger defense stock witnesses a multi month breakout
One stock in the defense sector that warranted special attention in the Wednesday session was Bharat Dynamics Ltd. The stock touched a fresh all-time high on Wednesday, jumping 3% on a sharp rise in share trading volume. Even more impressive is that the stock has returned nearly 371% over the past three years. As a result it has become a true multibagger stock.
However, the fact that the company’s shares were so important on Wednesday is that the stock has seen a multi-month breakout. A multi-month breakout with a substantial jump in share count is a perfect recipe for investors. This means, investors can keep this stock in their portfolio. Because the stock has the potential to make some impressive gains in the coming days.
Adding to the excitement, the company recently announced that it has recorded a turnover of approximately Rs 2,548 crore for the financial year ended March 31, 2023. This news has further boosted the price of this stock and it may rise further soon.
The defense sector has proven to be a safe haven for investors during these turbulent times, and this related stock is an outstanding stock.
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