This multibagger stock option zoomed 484 per cent in a day; the stock price hit a 52-week high and locked into a 10 per cent upper circuit!
If you had bought one lot of Tata Chemicals’ call option of this strike price at the day open and held till now, you would have gained Rs 9501.77 per lot in a day.
Tata chemicals Ltd shares soared 10.99 per cent and locked into the upper circuit at Rs 1,178.55. The stock price traded on new 52-Week High value of Rs 1202.65 and saw spurt in volume by more than 13.04 times. Due to which the stock options of Tata chemicals zoomed more than 400 per cent in a day. The multibagger call option strike price of 1,230 soared 484 per cent in a day from Rs 4.5 to Rs 25.40
If you had bought one lot of Tata Chemicals’ call option strike price of Rs 1,230 at the day open at Rs 4.5 and held till now, you would have gained Rs 9501.77 per lot in a day.
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On March 5th, 2024, Tata Chemicals' outlook has been changed by Fitch Ratings to "stable" due to the global soda ash industry's oversupply. Tata Chemicals's credit metrics and earnings are predicted to deteriorate in FY25 due to an overstock in the industry and sluggish demand in Europe. However, a steady rebound in demand, tighter supply, and reduced energy costs are likely to boost profits from FY26.
The futures of Tata chemicals saw significant long buildup today by gaining 10.44 percent and OI increase of 6.87 per cent. On the weekly basis the stock has formed long buildup gaining 25.43 per cent and OI increase of 4.73 per cent.
Tata Chemicals Ltd. is a holding company, which engages in the manufacture and sale of inorganic chemicals.
The shares of the company have delivered multibagger returns of over 25 per cent in a week and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.