Multibagger Stock: Anand Rathi Wealth soared over 340% in just 9 months, advanced 650% in little over 2 years

livemint.com:

Anand Rathi Wealth, one of the leading non-bank wealth solutions firms in India, have jumped 4.5% to hit an all-time high of ₹4,189.85 apiece in today's intraday trade as investors reacted positively to the company's Q4FY24 earnings. Looking back, the shares have delivered phenomenal returns to their shareholders in a very short period of time, as they hit record highs with each passing month. The company's shares, which were trading at ₹933 apiece in July 2023, have skyrocketed to the current level of ₹4,127 apiece, delivering a whopping return of 342% in just 9 months.

Impressively, the stock has shown remarkable performance, ending in the green for eight of the past nine months. November 2023 recorded the highest monthly gain at 36%, closely followed by February with a rally of 20%. Also Read: FPIs pump ₹13,347 crore in Indian equities, debt flows reduce in April so far Anand Rathi Wealth is engaged in the business of private wealth, catering to high- and ultra-high-net-worth individuals (HNIs and UHNIs).

The company's shares were listed on the exchanges on December 14, 2021, for ₹583.15 apiece, 6.1% higher than the issue price of ₹550. Considering the current trading price, the stock is trading 650.36% higher than its IPO price. Despite the challenges posed by geopolitical tensions, the resilience of the Indian equity capital markets has been noteworthy, contributing significantly to wealth generation and the robust growth of the wealth management sector.