Chemical stock has increased 120% since Dec 1 despite Sensex falling 3000 points from peak

From December 1st, 2022, the price of a multi-bagger chemical stock has risen from ₹145 to ₹320.

After achieving a lifetime high of 63,583, the 30-stock Sensex has continued under selling pressure, and the Bombay Sensitive Index has lost nearly 3,000 points from its top on December 1, 2022. During this time, however, several stocks have provided outstanding returns to their stockholders. Travancore Fertilisers & Chemicals shares are one of them.

This chemical stock, which has a market valuation of over Rs.20,740, has risen by more than 120% since December 1st, 2022. So, despite the Sensex dropping by 3,000 points, Fertilisers & Chemicals Travancore shares are one of the multibagger stocks that Dalal Street has delivered after December 1st, 2022.

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Shares of Fertilisers and Chemicals Travancore Ltd are traded on both the NSE and the BSE, and the company had a market capitalization of roughly Rs 20,740 crore on Tuesday. Its trade volume on the NSE on Tuesday was 23,85,361, which was significantly lower than its 20-day average transaction volume of 42,90,997. Its 52-week high on the NSE is 390 per share, and its 52-week low is 82.35 per share. Fertilisers and Chemicals Travancore’s book value per share is 2.93. However, the stock has a PE multiple of more than 37, which is much higher than the industry PE of approximately 14.