This stock under Rs 100 has jumped over 3500 per cent from its 52-week low; do own it?
The stock's 52-week low stands at Rs 2.59, while its 52-week high stands at Rs 243
Nifty ended with a loss of nearly 0.45 per cent on Friday and moreover, it ended the session near the day’s low and it formed a lower high and lower candle on the daily chart.
On the weekly chart, Nifty has formed a long logged doji pattern for yet another week, indicating indecisiveness among buyers and sellers about the future market trend. Interestingly, it continues to consolidate just above the 20 WMA for yet another week.
Going forward, the level of 18000 is likely to act as an immediate support level followed by the level of 17750. Meanwhile on the upside, the level of 18250-18280 is likely to act as strong resistance in the near term.
Overall, for the last four weeks, the index is trading in stipulated range. Amid consolidation in the frontline indices, the broader indices are seen underperforming the frontline and hence, many stocks from the broader markets are seen tumbling down and some are hitting 52-week low.
In this article, we are going to talk about one stock which has seen a turnaround from its 52-week low and the returns the stock has delivered from its 52-week low could make your heart skip a beat! The stock has jumped a whopping 3568 per cent from its 52-week low. The stock has turned multibagger from its 52-week low.
The stock name is Shri Gang Industries & Allied Products and it is in business of selling Vanaspati and other edible oils under the brand name APNA & Mr. Baker. As a part of the rehabilitation scheme the company diversified into potable liquor sector and decided to set up a grain-based Distillery unit with Bottling Plant for IMFL at Sandila, Dist. Hardoi, Uttar Pradesh. The Bottling Unit of the Company was commissioned during the year under review and started commercial production from July 17, 2020.
The stock's 52-week low stands at Rs 2.59, while its 52-week high stands at Rs 243. The stock has a market cap of Rs 170 crore. Company reported a net sale of Rs 27.54 crore in quarter ended September 2022 up 48.6 per cent YoY and net profit jumped to Rs 1.66 crore up by 17.67 per cent YoY.