Multibagger! Up 525%, this penny stock turned ₹21.5 into ₹134 in just 3 years

livemint.com:

₹21.5 in January 2021 to around ₹134 currently, rallying almost 525 percent in 3 years. This implies that an investment of ₹10,000 in this penny stock in January 2021 would have turned into ₹62,500 this year. The stock has rallied in January so far, up over 13 percent, after a 6 percent fall in December 2023.

Before that, it was in the green for 4 straight months between August and November 2023, soaring 100 percent. In 2023, the stock gave positive returns in seven months and was in the red in 5 months. It gave double-digit returns in 6 of those 7 months it was positive in.

The stock rallied the most in November, up almost 39 percent, followed by June, up almost 28 percent and May, up over 23 percent. It was also in the green in October, August, April and September, up between 3.5 and 19 percent. Meanwhile, it was in the red for the first 3 months of 2023, down over 16 percent in that period.

It also fell around 2 percent in July and 6 percent in December. The stock hit its record high of ₹134.20 earlier this week on January 8, 2024. With this new peak, the scrip has soared over 327 percent from its 52-week low of ₹31.40, hit on March 29, 2023.

Meanwhile, in the last 1 year as well, it has given multibagger returns, jumping 242 percent. The rise in its stock price came on the back of a significant rise in its net profit and EBITDA over the past few quarters. In the September quarter, the firm posted around 188 percent surge in its quarterly net profit at ₹184.05 crore from ₹63.93 crore in the year-ago period.