Multibagger: This small-cap pharma stock soared over 750% in 5 years, 366% in 1 year; should you buy?
₹762 in February 2019 to around ₹6,500 currently. This implies a return of over 753 percent for its investors. Meanwhile, the stock has also given multibagger returns in the last 3 years as well as in the last 1 year.
It has rallied 436 percent in the last 3 years from ₹1,289.25 in February 2021 and 366 percent in the last 1 year from ₹1,481.15. Just in 2024 YTD, the stock has advanced over 30 percent, hitting its record high of ₹6,914.10 in intra-day deals on February 9, 2024. With this surge, the stock has already skyrocketed over 407 percent from its 52-week low of ₹1,362.65, hit on February 13, 2023.
February is the second straight positive month. Before this, it rose over 21 percent in January 2024. Neuland Laboratories Limited manufactures and sells active pharmaceutical ingredients (APIs) in India, Europe, the United States, and internationally.
The company's APIs are used in various therapeutic areas, including antiasthmatics, cardiovascular, antifungal, anticonvulsants, central nervous system, fluoroquinolones, antipsychotic, antibacterial, and antiparkinson. It also provides custom manufacturing solutions, as well as peptide synthesis services. Neuland Laboratories Limited was incorporated in 1984 and is headquartered in Hyderabad, India.
This notable uptrend reflects the strong market interest and positive sentiment for the stock, signaling a record-breaking performance for the company in the current market conditions. Multifold profit and buy sentiment from brokerages aided the sentiment. The stock also witnessed an upgrade in its credit ratings recently.
Read more on livemint.com
