This small-cap stock doubled in 2017 and buy it now to double your money in 2018

Indian stock markets have been on a perpetual rising streak for the last one year and have beaten most of the markets among the major economies of the world. The benchmark indices Sensex and Nifty have returned 28% in the last 12-month year period. Sensex has surpassed eight levels this year, rising by more than 8,000 points adding about 8,189 points to hit an all-time high of 34,005.37 from a level of 25,807.1 a year ago. The 30-share barometer Sensex has seen a couple of slumps in a journey from 25,807 to 34,000 but many other factors kept the momentum going, such as World Bank ease of doing business upgrade, Moody’s sovereign credit rating upgrade, Modi government’s PSU bank recapitalisation and others.

There are some stocks which have vastly outperformed the massive returns of key equity indices even. We bring you one such small-cap stock which had more than doubled the investor’s wealth in 2017 and you can buy it now to double your money in 2018. Shares of Binani Industries have grown over 2 times in the last one year period. The stock of Binani Industries had zoomed more than 115% to a level of Rs 141 from Rs 65 a year ago. The research and brokerage firm HDFC Securities has given a target price of Rs 269 from a recommendation price of Rs 107, an upside of 151% and from its current market price of around Rs 140, it implies an upside of 92%. Binani Industries is a small-cap stock commanding a market capitalisation of about Rs 445 crore on BSE.

Binani Industries is a holding company having business operations, through its subsidiaries, in the cement, fiberglass, EPC, and energy. Binani Cements, one of the subsidiaries of Binani Industries presents a strategic opportunity for potential bidders. The cement capacity of Binani Cement Ltd (BCL) is 11.25 metric tons per annum and it operates integrated cement plants in India and China as well as a grinding unit in Dubai, UAE. “In the recent times, with an expectation of further consolidation in the Indian cement sector, we expect the plant of the size of BCL’s in Rajasthan backed by sufficient raw material reserves and a medium to market and produce in Asian and Middle East would make BCL an attractive bet for any Indian player,” HDFC Securities said.

“We feel risk bearing investors could buy the stock at the CMP and add on dips to Rs 87-91 band for sequential targets of Rs 136, Rs 203 & Rs 269 over the next 4-6 quarters with a stop loss of Rs.77,” HDFC Securities said in a report.