Multibagger Stock: Rajnish Retail has gained over 1000% in just one year, more than 12000% in 5 years! Should you buy?
₹7.51 in May 2023 to touch its record high of ₹90.19 in intra-day deals today. In the last 5 years as well, the stock has given exceptional returns, rallying 12255 percent from ₹0.73 in May 2019. Meanwhile, it has soared over 6388 percent in the last 3 years from ₹1.39 in May 2021.
Just in 2024 YTD, it has jumped over 43 percent. This year so far, the scrip has given positive returns in 3 of the 5 months to date. The stock advanced 6 percent in May following a 39.5 percent surge in April.
However, it fell 8.3 percent in March and 5.2 percent in February. Meanwhile, it was positive in the first month of this year, gaining 11.5 percent in January 2024. However, it is important to note that the stock is currently trading under ESM: Stage 2 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. Rajnish Retail Limited engages in the manufacture and trading of diamonds and diamond jewellery in India and internationally. The company offers white loose, and fancy cut and color diamonds; rings, earrings, pendants, bracelets, bangles, necklace sets, and nose pins.
It is also involved in the online trading of designer gold and diamond jewellery. The company exports its products. The company was
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