Rs 158 to Rs 2,977: This Defence Stock Turned into a Multibagger in Two Years, Hit Record High Today


Investors are always on the lookout for stocks with the potential for substantial returns. In the volatile world of the stock market, finding a multibagger – a stock that multiplies its value several times over – is like striking gold.

One such stock in the defense sector has seen a meteoric rise from Rs 158 to Rs 2,977 in just two years, marking a record high today. Let’s delve into the journey of this remarkable stock and the factors driving its growth.

The Journey of the Multibagger

Initial Performance

Two years ago, this defense stock was trading at a modest Rs 158. At that time, it was under the radar of many investors, primarily due to the relatively stable and predictable nature of the defense sector, which doesn’t typically see the same level of volatility and rapid growth as tech or biotech stocks.

Key Drivers of Growth

  • Government Policies: The Indian government’s push for self-reliance in defense manufacturing, also known as the “Make in India” initiative, provided a significant boost. Policies encouraging domestic production of defense equipment and reduced reliance on imports created a favorable environment for the company.
  • Strategic Contracts: The company secured several high-value contracts from the Indian Armed Forces and other international clients. These contracts not only provided immediate revenue but also established the company as a trusted supplier in the defense sector.
  • Technological Advancements: Continuous investment in R&D led to the development of cutting-edge defense technologies. This innovation attracted more contracts and partnerships, further enhancing the company’s reputation and financial performance.
  • Strong Financials: Over the past two years, the company reported consistent growth in revenue and profits. Strong financial health attracted institutional investors, further driving up the stock price.

Recent Performance

Today, the stock hit an all-time high of Rs 2,977. This represents a staggering increase of over 18 times its value from two years ago. The company’s quarterly results continue to impress, with robust earnings reports reflecting strong demand for its products.

To know more in detail, click here.


The defense sector, often considered a stable and slow-growing industry, has produced a remarkable multibagger in this stock. Driven by favorable government policies, strategic contracts, technological advancements, and strong financials, this stock has rewarded its investors handsomely.

As it continues to grow and evolve, it remains a compelling case study for investors seeking high-growth opportunities in unlikely sectors.

People May Ask

What is a multibagger stock?

A multibagger stock is a stock that increases in value multiple times over, providing substantial returns to investors.

What factors contributed to the growth of this defense stock?

Government policies, strategic contracts, technological advancements, and strong financials.

Is investing in the defense sector generally considered high-risk?

The defense sector is typically considered stable and less volatile compared to sectors like technology or biotech.

How can investors identify potential multibagger stocks?

Look for strong fundamentals, favorable government policies, strategic partnerships, and continuous innovation.

What was the initial price of this defense stock two years ago?

The stock was trading at Rs 158 two years ago.

author avatar
Aanchal Rao