President of India’s portfolio gains Rs 377,41,33,581 and LIC’s portfolio gains Rs 88,03,28,542 from this multibagger penny stock at Rs 64 in just 1 day, scrip hit 52-week high!
The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 19.27 per share.
Indian markets soared to new heights today, propelled by bullish sentiment. Both the Sensex and Nifty reached record levels, with the Sensex breaching the 80,910 mark and the Nifty surpassing the 24,679 threshold.
Along with the market in green, this multibagger gained 19.96 to Rs 64 per share from its previous closing of Rs 53.35; being one of the Top Gainers on BSE & NSE. The stock also made a new 52-week high of Rs 64 per share with a spurt in volume by more than 3 times on BSE.
Wait! Before we reveal the secret stock, let's crack the code of the President's portfolio and LIC's wealth surge. Buckle up, it's about to get intense!
The President of India’s portfolio owns 35,43,78,740 shares or 56.25 per cent and LIC’s portfolio owns 8,26,59,957 or 13.12 per cent stake in the company.
Therefore, the President of India’s portfolio gains Rs 377,41,33,581 (35,43,78,740 shares x Rs 10.65 per share) and LIC’s portfolio gains Rs 88,03,28,542 (8,26,59,957 shares x 10.65 per share) in just 1 day.
Talking about the company, it was incorporated as a public sector undertaking in 1986 to serve the cities of Delhi including NCR and Mumbai including Thane district in India. It started with an objective to provide world-class telecommunication services to its customers with affordable tariffs. The company got Navratna Status in 1997.
Also Read: 3:1 Bonus Share: Multibagger Penny Stock at Rs 19.22 Hit Upper Circuit with Heavy Volume as Company Announces Business Expansion
The company falls under the BSE Small-Cap Index with a market cap of over Rs 4,000 crore with a 5-year stock price CAGR of 50 per cent. In its Quarterly Results (Q4FY24) and annual results (FY24), the company reported mixed sets of numbers and in the last 10 years, the company has been making a net loss of 4-digit (Ranging net loss from Rs 1,946 crore to Rs 3,694 crore).
It's time to unveil the stock's identity, and it goes by the name Mahanagar Telephone Nigam Ltd (MTNL). The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 19.27 per share.
Do you own MTNL’s stock in your portfolio? Do let us know in the comments below
Disclaimer: The article is for informational purposes only and not investment advice.
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