2,300 per cent returns: This multibagger small-cap company entered into a collaboration agreement with Manjushree Technopack Ltd for business expansion!

The stock gave multibagger returns of 280 per cent in 3 years and a whopping 2,300 per cent in a decade.

On Friday, one of the Top Gainers, shares of Ganesha Ecosphere Ltd surged 4.38 per cent to an intraday high of Rs 989.85 per share. At the closing bell, shares of the company were trading at Rs 984 per share, up 3.76 per cent with a spurt in volume by more than 2 times on BSE.

The sudden rise in the stock was mainly due to the company announcing that Ganesha Ecopet Private Limited, a wholly-owned subsidiary of the company, has entered into a collaboration agreement with Manjushree Technopack Limited (MTL) to co-develop, co-market and supply integrated end-to-end recycled plastic packaging solutions.

The agreement shall remain valid for a period of 4 years and help both companies in business expansion. Assenting aggregate investment of Rs 15 crore by MTL in Ganesha Ecopet Private Limited & Ganesha Ecotech Private Limited, for a 1 per cent stake in each of the wholly owned subsidiaries of the company, at a consolidated valuation of Rs 1,500 crore.

Ganesha Ecosphere Ltd is a leading PET waste recycling company in India and is engaged in the manufacturing of Recycled Polyester Staple Fibre (RPSF), spun yarn and dyed texturized yarn in India. The company has a market cap of over Rs 2,100 crore with a 3-year stock price CAGR of 56 per cent. Additionally, the company reported positive numbers in its Quarterly Results and annual results.

The stock gave multibagger returns of 280 per cent in 3 years and a whopping 2,300 per cent in a decade. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.