Multibagger: Up 1845%, this stock turned ₹10,000 into ₹1.94 lakh in a year

livemint.com:

Jai Balaji Industries have given exceptional returns to their investors in the last 1 year. The stock has delivered phenomenal returns surging over 1845 percent to ₹1,046.90 from ₹53.8 in January 2023. This implies that an investment of ₹10,000 in this penny stock in January 2023 would have turned into ₹1.94 lakh now.

The stock has rallied almost 34 percent in January so far, extending gains for the seventh straight month since July 2023. Between July 2023 and January 2024 (to date), the stock has soared 1277 percent. In 2023, the stock gave positive returns in eight months and was in the red in 4 months.

It also gave multibagger returns in 1 month - July, surging 106.5 percent. Apart from that, it jumped 72 percent in August, 61.4 percent in September, 41 percent in May, and around 31 percent in April and October each. However, it shed the most in June, down 10 percent followed by March, down 9 percent, February, down 7 percent and January, down 1.6 percent.

The stock hit its record high of ₹1,046.90 in today's session, January 17, 2024. It has now skyrocketed 2392 percent from its 52-week low of ₹42, hit on March 28, 2023. Looking at the long-term performance, the shares produced significant returns, as in the last three years, they have zoomed 3824 percent and in the last five-year period, they soared 3422 percent.

The company announced robust September quarter results (Q2FY24), with its consolidated net profit surging by 862 percent to ₹202 crore. In the same period of last year, it posted a net profit of ₹22 crore, and in the preceding June quarter (Q1FY24), it recorded a net profit of ₹170 crore. The revenue from operations during the September quarter came in at ₹1,547 crore, a rise of 13 percent over Q2FY23