Multibagger Stock Defies Market Slump, Hits Upper Circuit for Consecutive Days

Even as Indian equity markets witnessed sharp selling pressure for the second consecutive session, shares of A-1 Limited continued to buck the trend, closing at the upper circuit for the third straight trading day. While the benchmark BSE Sensex fell 533 points on Tuesday after declining in the previous session as well, A-1 Limited’s stock surged 5% to close at ₹2,055.10.

The Ahmedabad-based chemical trading and logistics company has been attracting strong investor interest following key corporate announcements aimed at improving liquidity and rewarding shareholders.

Bonus Issue and Stock Split Drive Rally

A-1 Limited (formerly A-1 Acid Limited) recently informed the BSE that it has fixed December 31, 2025, as the record date to determine shareholder eligibility for a 3:1 bonus issue and a 10:1 stock split. The proposals were approved by the company’s board of directors at its meeting held on November 14, 2025.

Under the approved plan, the company will issue three bonus equity shares for every one existing share held. In addition, the face value of each equity share will be subdivided from ₹10 to ₹1, resulting in ten equity shares for every existing share. The move is aimed at enhancing stock liquidity and making the shares more affordable for retail investors.

Sharp Turnaround in Price Trend

According to BSE data, the stock had been locked in a lower circuit on most trading sessions since November 28. However, sentiment reversed sharply from December 12, with the stock hitting the upper circuit every day since then. On Monday, the stock closed at ₹1,957.25, and despite intraday volatility on Tuesday—when it briefly dipped to ₹2,055.05—it quickly recovered to end the session at the day’s upper limit of ₹2,055.10. The stock currently trades within a 5% circuit limit.

Major Supply Agreement Adds Strength

Adding further momentum, A-1 Limited recently announced that it has entered into a tripartite long-term supply agreement for the delivery of 10,000 tonnes of concentrated nitric acid for industrial use. The supplies are scheduled to be executed between November 2025 and March 2026, with a provision for additional quantities by mutual consent.

Under the agreement, Gujarat Narmada Valley Fertilizers and Chemicals Limited (GNFC) will act as the manufacturer, while Solar Industries India Limited and its group companies will be the buyers and end users. A-1 Limited will serve as the dealer for the entire transaction.

Investor Confidence Remains Strong

Despite broader market weakness, the combination of corporate actions such as the bonus issue and stock split, along with the securing of a significant long-term supply contract, has reinforced investor confidence in the stock. Market participants view A-1 Limited as a potential multibagger, especially as it continues to outperform during a period of heightened volatility in the equity markets.