Up 3887% since March 2020! This penny stock turned ₹10k into ₹4 lakh in just 4 years

livemint.com:

Comfort Intech's share price has posted multibagger returns in the last 4 years, rising from ₹0.2 in March 2020 to around ₹9.25 currently. This implies a return of 3887 percent for its investors. An investment of ₹10,000 in this stock in March 2020 would have turned into ₹3.98 lakh now.

Comfort Intech is a non-banking financial company (NBFC) specialising in offering financial services to a diverse clientele, including commercial, industrial, and financial entities. Their range of financial solutions encompasses trade finance, bill discounting, working capital loans, and loans against property, among others. As of March 13, 2024, Comfort Intech Ltd boasts a market capitalisation of ₹297.22 crore, making it a noteworthy penny stock option in India.

The stock has surged 235 percent in the last 1 year but is down a little over 1 percent in 2024 YTD. Currently trading at ₹9.25, the stock is almost 25 percent away from its 52-week high of ₹12.28, hit on February 27, 2024. Meanwhile, it has rallied over 295 percent from its 52-week low of ₹2.34, hit on March 21, 2023.

The stock has lost 12.6 percent in March so far after a 19.26 percent jump in February. Meanwhile, it also fell 5.3 percent in January this year. 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.

In the December quarter (Q3FY24), the company posted a net profit of ₹2.07 crore, down 21 percent as against a profit of ₹2.63 crore in the same quarter last year. Meanwhile, its revenue in the December quarter came in at ₹51.5 crore, up 22 percent from ₹42.2 crore in the same quarter last year. According to ICICI Direct, the company has