Dilipkumar Lakhi gains Rs 4,29,73,701 in a single day as his multibagger penny stock was locked at upper circuit; stock has more than doubled in last one month!

Notably, the stock reached a 52-week high of Rs 7.35 on the NSE.

In a dynamic turn of events last Friday, the Nifty index opened higher at 20,934, reaching an intraday pinnacle of 21,006—an unprecedented record high. The day witnessed a brief spell of profit-taking during afternoon trade, causing a dip to 20,863. However, displaying remarkable resilience, Nifty swiftly rebounded, culminating in a closing high of 20,969, marking a substantial gain of 68 points.

On the weekly chart, Nifty showcased an impressive bullish candlestick pattern, orchestrating a remarkable rally of 3.5 per cent. This surge stands as the most substantial weekly gain since the week concluding on July 22, 2022, last year. Simultaneously, on the daily chart, Nifty achieved a long-anticipated milestone by breaching the psychological barrier of 21,000.

This achievement coincided with the Reserve Bank of India's announcement, wherein they revised the full-year growth forecast to an optimistic 7 per cent. Despite maintaining the repo rate and full-year inflation forecast unchanged, the RBI cited concerns about a potential resurgence in inflation, affirming their unwavering commitment to prioritizing price stability.

In the midst of this financial fervor, one standout performer was the penny stock Unitech Ltd., which hit the upper circuit limit on Friday. Opening at Rs 7.35, the stock maintained this level throughout the day, closing at the same mark. Notably, the stock reached a 52-week high of Rs 7.35 on the NSE.

Adding to the intrigue, ace investor Dilipkumar Lakhi commands an impressive 4.69 per cent stake in Unitech Ltd., translating to a staggering 122,782,004 shares. With the stock gaining Rs 0.35 per share, Lakhi realized an absolute return of Rs 4,29,73,701 in a single day.

Unitech Ltd. has proven to be a stellar performer, delivering multibagger returns of 149.15 per cent in just one month and an astonishing surge of over 200 per cent in the last three months. As the financial landscape continues to evolve, we are curious to know—does this sub-Rs 10 stock find a place in your portfolio? Share your insights with us!

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