Multibagger stock below Rs 5: Watch out for this penny stock, which was locked in the upper circuit on March 16

The indices in the broader markets were trading lower, with BSE Small-cap Index down by 0.69 per cent and down by 3.37 per cent in last 5 days.  

On Thursday, the benchmark domestic indices ended the day high, up 0.14 per cent at a level of Rs 57,634.85. The indices in the broader markets were trading lower, with BSE Small-Cap Index down by 0.69 per cent and down by 3.37 per cent in last 5 days.  

Though it is a mixed market today, one of the Top Gainers on BSE Small-cap Index, shares of Sintex Plastics Technology Ltd surged and reached upper price band of Rs 2.18 per share after being locked in a 5 per cent upper circuit from its previous closing of Rs 2.08. The stock has a 52-week high of Rs 8.50 and a 52-week low of Rs 1.90.  

Sintex Plastics Technology Limited is a plastic processing conglomerate that caters to diverse high-growth sectors. It is engaged in the manufacture of plastic products in India and Europe and trading activities in the USA.  

Sintex Plastics Technology has a market cap of Rs 138.68 crore. The company reported excellent Quarterly Results (Q3). In Q3FY23, net sales rose by 5.10 per cent over Q3FY22. The company posted a net loss of 21 crore in Q3F22, while in Q3F23, it skyrocketed to a net profit of 36 crore.  

The stock gave multibagger returns of 263.33 per cent in the last 3 years. Investors should keep an eye on this penny stock.