Multibagger Stock: Intellivate Capital Ventures turned ₹10,000 into over ₹1 lakh in 2023
Intellivate Capital Ventures have given exceptional returns to their investors in 2023 following the overall positive market sentiment. Despite facing multiple challenges such as the Russia-Ukraine war, the Israel-Hamas war, peak global inflation, rising crude prices, peak US 10-year yield, and a consumption slowdown, the Indian market achieved a record-high streak. This remarkable performance can be attributed to sustained foreign and domestic investor inflows, improving macroeconomic indicators, and the potential for the incumbent government's return to power, all of which, contributed to keeping the markets resilient during the period.
Penny stock Intellivate Capital Ventures proved to be resilient and gave massive returns. The stock surged from ₹11.63 to around ₹122.11 currently, rallying as much as 950 percent year-to-date (YTD). This implies that an investment of ₹10,000 in this penny stock in December last year would have turned into ₹1.05 lakh this year.
Of the 12 months of 2023 (considering December so far), the stock gave positive returns in ten, was flat in one (April), and was in the red in just 1 month (November 2023). It gave double-digit returns in 5 of those 10 months it was positive in. The stock rallied the most in July, surging almost 83 percent, followed by August and June, when it jumped around 55 percent each.
The stock started the year on a positive note and was in the green in the first 3 months of the year, up 5 percent in each January, February, and March. Then, after a flat April, the stock gave positive returns for 6 straight months until declining in November (down 9 percent). Between May and October, it soared 634 percent.
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