This stock is up 30,000% in the last 5 years. More gains ahead?
travel sector, despite soaring costs and increased expenses. Tourists became a driving force, reshaping the global tourism scene. This resurgence breathed life into the hospitality industry.
Many companies witnessed a historic year, achieving their best results during the first two business quarters. Of these companies, one stood out, with its stock price rising over 190% in the last year. Over the last one month, shares of this media and hospitality company have risen more than 13% on the back of bright prospects.
The stock is also a multibagger having jumped over 300x since listing. Take a look at how the company’s stock price has performed. If an investor had invested ₹10,000 in the company’s share five years ago, it would have turned into a staggering ₹30 lakh today.
If you’re wondering which company this is, the stock is none other than Praveg Ltd. The company is a pioneer in the non-permanent luxury accommodation segment in India, and it is also a strong player in event management. Praveg secured its first contract from Gujarat Tourism in 2013 to develop a tent city in the Rann of Kutch for the Rann Utsav festival.
In 2018, it bagged a tender to develop a similar tent city near the Statue of Unity. Praveg shares have witnessed a significant surge off late. This surge is part of a larger upward trend that has been observed in the last five years, resulting in remarkable gains for the company.
So, what’s driving the stock price? Let’s find out. The recent surge in the company’s stock price can be attributed to the multiple orders it has received in the last few months. On 20 December 2023, Praveg recently bagged an order for the development, operation, maintenance, and management of at least 50 tents at Agatti
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