Multibagger SME stock witnesses V-shaped recovery; hits fresh all-time high - Don't miss the technical outlook!

This company has managed to become a multibagger, soaring over 1100 per cent from its April 2020 low and achieving a high of Rs 1460.

In the world of corporate finance, size may not always be an indicator of growth potential. SMEs, while considered the smallest in the corporate hierarchy, can offer exponential returns to investors who are willing to take on higher risks. In this article, we bring to you a remarkable stock from the SME category that has caught the attention of the investing community with its impressive returns and recent V-shaped recovery to achieve a fresh 52-week high. 

Introducing Thejo Engineering, an engineering solutions provider for core sector industries such as mining, power, steel, cement, ports, and fertilizers, offering bulk material handling, mineral processing, and corrosion protection services. This company has managed to become a multibagger, soaring over 1100 per cent from its April 2020 low and achieving a high of Rs 1460. 

However, it experienced a sharp correction of over 20 per cent from its all-time highs, only to make a stunning comeback after forming a swing low of Rs 1126.10. 

What followed was a classic V-shaped recovery, marked by a swift bounce-back that mirrored the shape of the letter "V" in its chart. Monday's trading session saw record volumes for the stock, with the highest single-day volume traded since August of last year. Trading above all its key short and long-term moving averages, and meeting Guppy's GMMA criteria, Thejo Engineering has shown bullish strength with its 14-period daily RSI in positive territory. 

Follow us as we unravel the fascinating journey of this exceptional SME stock that has captured the attention of investors with its remarkable returns and stellar performance.