Mukul Agrawal Portfolio: PTC Industries Share Price Surges 200% in One Year – More Gains Ahead?

PTC Industries, a defense stock in Mukul Agrawal’s portfolio, has seen a significant rise over the past month. Since June 2024, its share price has jumped from around ₹8,220 to ₹14,000, marking an increase of over 70%. Over the past year, the stock has delivered a remarkable 200% return. Market experts remain optimistic about the stock’s future, advising medium to long-term investors to hold on to it. They believe the stock will continue to benefit from the Indian government’s Make In India initiative.

Reasons for the Rally

Saurabh Jain, Vice President of Research at SMC Global Securities, attributes the stock’s rise to PTC Industries’ involvement in a special purpose vehicle (SPV) under the Make In India initiative. This government program aims to encourage companies to manufacture products in India. The company’s strategic partnerships with leading defense entities have boosted investor confidence and trade volume. Additionally, the company reported strong Q4 results in 2024, with total income growing by 22% year-on-year (YoY) and EBITDA increasing by 37% YoY. The market is expecting similarly strong numbers for Q1 2024.

Future Prospects and Targets

Sumeet Bagadia, Executive Director at Choice Broking, believes the stock still looks bullish. He advises investors to maintain a buy-on-dips strategy as long as the stock stays above ₹13,400. Bagadia suggests a near-term target of ₹15,000 per share and recommends new investors to buy at current levels while keeping a stop loss at ₹13,400.

Mukul Agrawal’s Holdings

In the January to March 2024 quarter, Mukul Agrawal held 1.67 lakh shares of PTC Industries, making up 1.16% of the company’s total paid-up capital.

Recent Developments

PTC Industries recently announced the development of advanced casting technology for manufacturing single crystal and directionally solidified blades and vanes for aero-engine and industrial gas turbine applications. This capability, established at its Lucknow facility, positions PTC as the only company in India with this technology and one of the few globally. This development is a significant milestone for the company, aligning with its objective to achieve technological parity.