Multibagger! Penny stock IFCI rises over 850% in 4 years, 278% in just 1 year; should you buy?

livemint.com:

IFCI has posted multibagger returns in the last 4 years, rising from ₹4 in March 2020 to around ₹39 currently. This implies a return of 875 percent for its investors. An investment of ₹10,000 in this stock in March 2020 would have turned into ₹97,500 now.

IFCI Limited provides non-banking financial services to the public sector in India. The company offers project finance for the power sector, such as renewable energy, telecommunications, roads, oil and gas, ports, airports, etc. It also provides corporate finance, offers syndication and advisory services, provides sales and resolution services for non-performing assets, and offers stock broking, commodities broking, currency trading, portfolio management and depository participant services.

The company was formerly known as Industrial Finance Corporation of India and changed its name to IFCI Limited in October 1999. IFCI Limited was founded in 1948 and is headquartered in New Delhi, India. The stock has surged over 278 percent in the last 1 year and gained 34 percent in 2024 YTD.

Currently trading at ₹39, the stock is almost 46 percent away from its 52-week high of ₹71.70, hit on February 8, 2024. Meanwhile, it has rallied over 332 percent from its 52-week low of ₹9.03, hit on March 28, 2023. The stock has lost 12.6 percent in March so far after a 19.26 percent jump in February.

Meanwhile, it also fell 5.3 percent in January this year. The remarkable upward trend underscores the robust market interest and optimistic sentiment surrounding the stock, marking a record-breaking performance for the company within the current market conditions. In the December quarter (Q3FY24), the company posted a net loss of ₹10 crore as against a profit of ₹83.7 crore in the September