Mukul Agrawal portfolio: PTC Industries share price jumps 200% in one year. More steam left?

Mukul Agrawal portfolio: PTC Industries share price has been on an uptrend for one month. After ushering in June 2024, the Mukul Agrawal portfolio stock has risen from around ₹8,220 to ₹14,000 per share mark, recording a more than 70 percent rise. The defence stock has delivered over 200 percent return in one year. Stock market experts are still highly bullish on the multibagger stock, foreseeing a promising future as the company is expected to benefit from the Government of India (GoI) subsidy under the Make In India scheme. They advised medium to long term investors to hold the stock as the stock is still looking bullish on chart pattern, instilling a sense of optimism in the market.

Triggers for PTC Industries share price rally

On why PTC Industries share price is rising, Saurabh Jain, Vice President — Research at SMC Global Securities, pointed out that the small-cap defence company's share price has been rising continuously after it informed the Indian stock market exchanges about its participation in the particular purpose vehicle (SPV) under the 'Make In India' initiative. This government-led campaign aims to encourage multinational and domestic companies to manufacture their products in India. The company's strategic partnership with top defence entities as part of this initiative led to a spurt in the trade volume of the stock, instilling confidence in the market.

The SMC Global Securities expert said that the company delivered strong Q4 results in 2024, and the market is expecting another set of strong quarterly numbers in the upcoming Q1 results 2024 season. He said that the company's total income grew 22 percent YoY in Q4FY24, whereas it recorded a 19.20 percent YoY rise in FY24. The company's EBITDA grew 37 percent YoY in Q4FY24, whereas it registered an over 30 percent YoY rise in EBITDA during FY24.

PTC Industries share price target

Expecting more upside in PTC Industries shares, Sumeet Bagadia, Executive Director at Choice Broking said, “The multibagger stock is still looking bullish on chart pattern and one can hold the scrip maintaining buy-on-dips strategy till the stock is above ₹13,400 mark. So, one can hold the scrip maintaining stop loss at ₹13,400 for the near-term target of ₹15,000 apiece. Fresh investors can also buy the stock at current levels and keep adding more, maintaining a stop loss at ₹13,400 for the short-term target of ₹15,000.”

Mukul Agrawal shareholding

According to PTC Industries Ltd.'s shareholding pattern for the January to March 2024 quarter, Mukul Agrawal holds 1.67 lakh company shares, which is 1.16 percent of the company's total paid-up capital.

PTC Industries news

The company has declared that it has successfully developed the most advanced casting technology for manufacturing Single Crystal and Directionally Solidified blades and vanes for Aero-engine and Industrial Gas Turbine applications. The company has setup this manufacturing capability at its Lucknow facility. This technological know-how makes PTC the only company to have this capability in India and amongst very few in the world. This technology till now has been kept very closely guarded and access to this technology has remained restricted for any country in the developing world. Creation of this indigenous capability by the company is a of major milestone for the company in achieving its overarching objective (Dharma) – to achieve Parity.

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