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News Topical, Digital Desk : Usha Martin shares have proven to be a multibagger, with the company's stock delivering returns of over 3,500% over five years. During this period, the stock price has risen from ₹10 to ₹440. The stock hit a low of ₹10.35 in 2020. Following its strong returns over the past few years, some domestic brokerages have initiated coverage on the stock.
Currently, the company's shares are trading lower at Rs 440, marking its fourth consecutive day of decline. However, over the long term, this stock has delivered multibagger returns.
High and Low of Usha Martin Share
Usha Martin shares have a 52-week high and all-time high of Rs 497, while their 52-week low is Rs 361. These shares have consistently delivered positive returns from May through September of this year. Returns of 144% in 2021, 91% in 2022, 72% in 2023, 27% in 2024, and approximately 17% in 2025 are expected.
Brokerage gives big target price
SMIFS has a 'buy' rating on Usha Martin shares and a target price of Rs 518. SBI Securities also has a 'buy' rating on the stock and a target price of Rs 527 per share.
Usha Martin shares have risen 3,460 per cent to Rs 463 today from its lowest level of around Rs 13 in May 2020. The stock has gained 45 per cent in the last six months, while it has gained 20 per cent in the last one year.
What is the company's business?
Usha Martin is a global and India-based leading specialty steel wire rope solutions provider. Its manufacturing capabilities come from state-of-the-art manufacturing facilities in India, Dubai, Bangkok, and the UK, as well as a global R&D center in Italy. It manufactures high-quality wires, low relaxation prestressed concrete steel strands (LRPC), custom-made end-fittings, and accessories. The company has a market cap of ₹13,431 crore.
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