Today, Nifty closed above 19,200, with all sectors showing gains. Bengal & Assam Company Ltd, engaged in holding investments and other financial assets of group companies, reached an all-time high today at Rs 7,999.
Yesterday, the stock closed at Rs 7,453.15. Today, it opened at Rs 7,440 and closed at Rs 7,980, marking a 7.07% increase. The stock reached an all-time high at Rs 7,999 today, while its 52-week low stands at Rs 2,820. The company currently boasts a market capitalization of approximately Rs 9,000 crore. Over the past six months, the company’s shares have delivered a multi-bagger return of 118.60%, and over the past year, the return has been an impressive 162.58%. In the same time frame, the Sensex has returned 5.18% and 5.80%, respectively.
Today’s surge is primarily attributed to the anticipation of upcoming results. The company has announced that it will be convening a board meeting on November 9, 2023, to approve the unaudited financial results for the second quarter and half-year ending on September 30, 2023.
Bengal & Assam Company Limited (BAC) operates in four segments: investment, polymers, cotton yarn, and dairy products. BAC’s subsidiaries include:
- J.K. Fenner (India) Limited: A manufacturer of power transmission products, such as V-belts, couplings, and variable speed drives.
- Umang Dairies Ltd: A manufacturer of dairy products, such as milk, curd, and paneer.
- LVP Foods Private Limited: A manufacturer and exporter of processed fruits and vegetables.
- Panchmahal Properties Ltd: A real estate development company.
BAC holds significant stakes in other major companies of the JK Group, including JK Tyre & Industries, JK Agri Genetics, JK Lakshmi Cement, JK Paper, and many more. As of FY23, the book value of the company’s investments in listed companies of JK Group stood at Rs 867 crore, accounting for 75% of the total investment. BAC’s investment portfolio encompasses shares of companies across diverse industries, including banking, financial services, insurance, consumer goods, energy, and healthcare. BAC’s subsidiaries are well-established and profitable enterprises.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.