Multibagger! Penny stock Suncity Synthetics gives over 280% returns in less than 3 months; should you invest?
₹7.7 at the end of March 2024.Overall, year-to-date, the stock has surged over 211 percent, while over the past year, it has soared by 359 percent.After a 130.64 percent rally in May and a 44.55 percent jump in April, the stock has advanced 12.5 percent in June so far. However, it experienced losses of 18 percent in March and 16.8 percent in February.
In January, the stock had gained 19.5 percent.Over the long term, spanning the last 3 years, the stock surged over 702 percent from ₹3.60 in June 2021. In the last 5 years, it has climbed over 518 percent from ₹4.67 in June 2019.The stock hit its record high of ₹29.45 in intra-day deals today.
It has soared 462 percent from its 52-week low of ₹5.24, hit on July 7, 2023.The Graded Surveillance Measure (GSM) framework was introduced by SEBI in collaboration with the exchanges. Its primary objective was to strengthen market integrity and protect the interests of investors.
The list of stocks moved to GSM can be tracked on NSE.The Enhanced Surveillance Measure (ESM) is a regulatory framework implemented by the National Stock Exchange (NSE) in India. It aims to enhance monitoring and surveillance of listed companies to ensure investor protection and market integrity.Under Stage I, the trading of the securities is settled through a trade-for-trade mechanism with a price band of 5 percent, or 2 percent.Under Stage II, the surveillance action permits trading on all trading days under periodic call auctions with trade-for-trade settlement and a 2 percent price band.
Earlier this stage permitted trading just once a week.Suncity Synthetics Limited produces synthetic fibers in India. It manufactures polyester staple fibers and PET/PA6 granules; regenerated polyester fibers primarily
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