From Rs 2.89 to Rs 7.11 per share: LIC-backed multibagger penny stock hit upper circuit as it allotted bonus shares; turned Rs 1 lakh to Rs 2.46 lakh in just 1 month!

The stock gave multibagger returns of 840 per cent in just 2 years and a whopping 3,460 per cent in 3 years.

Today, both major Indian indices were in the green, with the Sensex Index rising by 0.80 per cent and the Nifty-50 by 0.75 per cent. Along with the market in green, a remarkable multibagger from the FMCG sector, supported by the insurance giant LIC, defied expectations. This particular penny stock witnessed an astonishing surge of 146 per cent within just one month, reaching its daily upper limit of Rs 7.11.

In another development, the Board of Directors, in their meeting held on January 13, 2024, approved the allotment of 45,70,33,003 Equity Shares of Rs 1 each through bonus shares. This allotment is for members whose names appeared in the Register of Members as of January 11, 2024, the record date fixed for this purpose. The bonus issue entails a 1:1 ratio, with one new fully paid-up equity share of Rs 1 each allotted for every existing fully paid-up equity share of Rs 1 each held.

Following this allotment, the company's issued, subscribed, and paid-up equity share capital will increase from Rs 45,70,33,003 to Rs 91,40,66,006. The new bonus equity shares will enjoy parity with the existing equity shares in all respects, and the necessary compliances for crediting these bonus equity shares in the demat accounts of shareholders will be completed in due course. The company's 1.06 per cent stake held by the insurance giant LIC, contributes to the overall positive sentiment surrounding the company.

If an investor had committed Rs 1 lakh just a month ago, the investment would have experienced a remarkable surge, yielding a substantial return of Rs 1.46 lakh or an impressive 146 per cent increase in that short span of time. This surge would have propelled the initial investment to a noteworthy Rs 2.46 lakh, showcasing the potential for significant gains within the span of just 1 month.

The multibagger penny stock name is Integra Essentia Ltd.

Integra Essentia, a diversified player in life essentials (food, clothing, infrastructure, and energy) with a market cap of Rs 649.90 crore, has strategically entered the promising beer & whiskey market by acquiring a majority stake in Brewtus Beverages. This move, involving subsidiary formation and initial growth investment, aligns with Integra Essentia's focus on expanding its lifestyle beverages business and capitalizing on market potential.

The company's consolidated financial performance improved significantly in Q2FY24 and H1FY24 compared to the same periods in the previous fiscal year. The company's revenue grew by 17.11 per cent in Q2FY24 and 7.79 per cent in H1FY24. EBITDA increased by 420.98 per cent in Q2FY24 and 407.23 per cent in H1FY24, and PAT increased by 248 per cent in Q2FY24 and 217 per cent in H1FY24. 

The stock gave multibagger returns of 840 per cent in just 2 years and a whopping 3,460 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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