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A multibagger SME stock jumped 4% to hit its 52-week high in intraday deals on the NSE on Friday, 11 September, in a weak market. Shares of Monolithisch India, which have delivered solid multibagger returns year-to-date, opened at ₹1,490 on the NSE SME against its previous close of ₹1,446.40 and rose by 4% to a 52-week high of ₹1,505, looking set to extend gains for the fifth consecutive session. The SME stock has jumped over 190% year-to-date, while in the last one year, it has surged more than 205%, delivering multibagger returns, according to NSE data. In an exchange filing on 10 September, Monolithisch India said it had successfully secured a quartzite stone block in Nawada District, Bihar, through an e-auction conducted by the Mines and Geology Department, Government of Bihar. This stone block has been allocated to the company for a period of 5 years at a winning bid of ₹157 crore. Commercial operations are expected to commence from February or March 2027, said the company. According to the exchange filing, this acquisition is the company’s largest strategic milestone since its inception. The Government of Bihar auctioned this block with a mining capacity of 7,10,000 MT per annum, a cumulative capacity of 35,50,000 MT over the 5-year lease term. "This capacity will strengthen our raw material security and hedge raw material rates for 5 years, at a time when the Company is significantly expanding its silica ramming mass manufacturing capacity, with consolidated group capacity expected to reach 5,76,000 MTPA," said the company. "This strategic move will significantly strengthen our competitiveness in quality and cost in the coming years. It is very encouraging that this development coincides with the commencement timeline of our greenfield project. This milestone is expected to help the company achieve optimum capacity utilisation at its greenfield project ahead of schedule," said Harsh Tekriwal, Managing Director of Monolithisch India. Read all market-related news here Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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