Heavy buying witnessed in this multibagger stock which skyrocketed more than 170 per cent!

The stock has shown positive performance altogether as it has given multibagger returns of more than 171 per cent in just 1 year and more than 85 per cent in just 6 months

Speciality Restaurants began its journey of serving authentic world cuisines and over 300 years old delectable Indian cuisines in the year 1994. Company’s flagship brand, Mainland China, is one of the most recognised home-grown restaurant brands in India.  

In the confectionery business, Sweet Bengal is an established brand, with 30 outlets, it is the only chain serving authentic Bengali sweets and Bengali snacks in Mumbai and Pune. The other brands, Asia Kitchen by Mainland China, Riyasat, Barishh, Episode One, HoppIPOla, Oh! Calcutta and Cafe Mezzuna have also a strong market position in the respective categories.  

Recently, the board informed the exchange that they are considering cash infusion through a preferential issue of warrants of Rs 127.23 crore. The company also plans to open 12-15 restaurants in the next 24 months, which will be located in existing and newer tier-2 cities.   

On Thursday, shares of Speciality Restaurants rose more than 2 per cent to make an intraday high of Rs 279.95. The stock had recently made a new 52 week high of Rs 282.60 apiece on January 17, 2022. The scrip witnessed some profit booking and closed 0.31 per cent down to Rs 273.15.   

The stock has shown positive performance altogether as it has given multibagger returns of more than 171 per cent in just 1 year and more than 85 per cent in just 6 months. Keep a close eye on this multibaggger stock.