Multibagger in just 6 months: Keep an eye on this stock, which was locked in the upper circuit on January 09

The stock delivered multibagger returns of 153.20 per cent and 172.30 per cent over the 6-months and 1-year period respectively.

One of the Top Gainers on the BSE today, shares of Sky Gold Ltd surged and reached an upper price band of Rs 272.30 per share, after being locked in the 20 per cent upper circuit. In addition, the stock reached a fresh 52-week high of Rs 272.30.   

The price of the company's shares has skyrocketed recently, hitting back-to-back 52-week highs. The company reported positive results in its half-yearly and annual financial statements. In FY21, the net profit was only Rs 4.81 crore but it increased by 251.67 per cent to Rs 16.92 crore in FY22.  

Sky Gold Limited is engaged in the business of designing, manufacturing and marketing gold jewellery. The company follows a B2B model where the products are mainly sold to mid-range jewellers and boutique stores which sell them through online platforms and retail stores. Today, shares of Sky Gold saw a spurt in volume by more than 3.58 times on BSE.  

Sky Gold Ltd has a market cap of 292.56 crore. The stock's PE multiple is 14.41, compared to the sectoral PE multiple of 68.84 and ROE of 27.86 per cent, respectively. The stock delivered multibagger returns of 153.20 per cent and 172.30 per cent over the 6-months and 1-year period respectively. Investors should keep an eye on this stock.