Multibagger stock: Maithan Alloys stock running again after 124% return in 3 years, know what the company does – multibagger stock maithan alloys jumps over 6 percent in morning trade


New Delhi : Shares of Maithan Alloys Ltd. saw a significant gain of 6.51% today. Moreover, the volume of the stock has seen an increase of more than 1.43 times. At present, both Sensex and Nifty are showing a slight decline. Despite this, Maithon Alloys Ltd. has impressed the market sentiments with a significant increase in its share prices. Ferromanganese is needed in steel production for industries like construction and infrastructure. Due to this its demand is increasing. In addition, an increase in renewable energy projects and a focus on sustainability has further increased the need for ferromanganese in wind turbine manufacturing and energy-efficient steel structures.

Maithon Alloys is actively involved in the enterprise of manufacturing and exporting a comprehensive array of the three essential bulk ferro alloys Ferro Manganese, Silico Manganese and Ferro Silicon. In addition, the company is engaged in generation and distribution of eco-friendly wind power by leveraging captive power plants to contribute towards sustainable energy solutions.

The company has an impressive track record of consistently achieving favorable return on equity with a remarkable three year average ROE of 27.6%.
The stock also looks a good buy because it has given a handsome return of 33 per cent in the last year. It has also given multibagger returns of 124% in the last 3 years. This has strengthened the confidence among investors about this stock.

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