This Stock With Multibagger YTD Return Of 2373% Is Hitting Lower Circuit Back To Back

SEL Manufacturing shares in trade on June 6, 2022 are locked in 2% lower circuit again. The stock has been hitting lower circuit limit back to back. The lower circuit implies that the stock cannot fall further. There can be any negative news around the counter that is leading to such a stance.

Nevertheless, even as there may be number of sellers, one should avoid taking fresh positions.

About the company

SEL Manufacturing Company Limited is a holding company engaged in the manufacturing, processing and trading of textiles, such as yarn, fabric, readymade garments and towel.

Company's stock price trajectory

Stock's 1-year return has been a whopping over 21,467% with 52-week low price of Rs. 4.95 and 52-week high of Rs. 1975.8 per share. Stock's all time low price has been 0.35 per share. Another point to take note of that the scrip's 52-week high on the NSE is Rs. 1975.8, while it's BSE price is 1237.8

Why its circuit is at 2%?

The circuit filter is at a low of 2% because of very low volume in the counter. At

SEL Manufacturing Q4fy22

The company's total revenue from operations has increased YoY to Rs. 115.82 crore. Nevertheless from being a profitable concern a year ago, it is in losses with net loss at Rs. 24.2 crore.