Grindwell Norton: Up 40% in 6 days! This midcap is on fire through rain or shine. Red flag goes up
Explore Now NEW DELHI: Are you hunting for a Covid-proof midcap stock? Dalal Street thinks it has found one. Up 41 per cent from its May 3 low of Rs 911, the stock of Grindwell Norton has been on a roll. The maker of abrasives, ceramics and plastics delivered a solid 29.3 per cent profit growth in the Covid-hit FY21. It logged free cash flows for the 12th straight year, which analysts said has led to a strong balance sheet (with a net cash of Rs 640 crore) and consistent overall return on capital employed (RoCE) of 16 per cent for FY21. Margin for the year also expanded by 304 basis points t...
Source: indiatimes.com