Multibagger stock below Rs 2: Investors should keep an eye on this penny stock!

In just 1 month, the stock gave multibagger returns of 203.51 per cent, while the BSE Small-Cap Index fell 3.21 per cent.

On Friday, one of the Top Gainers on the BSE, Jai Mata Glass Ltd surged and reached an upper price band of Rs 1.73 per share, after being locked in the 5 per cent upper circuit.  In addition, the stock reached a fresh 52-week high of Rs 1.73.      

The price of the company's shares has skyrocketed recently, hitting back-to-back 52-week highs and upper circuits. In just 1 month, the stock gave multibagger returns of 203.51 per cent, while the BSE Small-Cap Index fell 3.21 per ent. The stock has given multibagger returns of 367.57 per cent over the last 6 months.  

Jai Mata Glass Ltd was incorporated in 1981. The company is engaged in glass business and procuring orders as a sales agent in the eastern and northern regions of India. Today, shares of the company saw a spurt in volume by more than 1.88 times on BSE.  

The company recorded positive outcomes, according to the financial filings. The market cap for Jai Mata Glass Ltd is Rs 17.30 crore. In Q2FY23 compared to Q2FY22, net sales rose by 22.5 per cent while net profit skyrocketed to 144.45 per cent. The company's net sales in FY22 rose by 528.57 per cent to Rs 0.44 crore from Rs 0.07 crore in FY21.  

Investors should keep an eye on this multibagger penny stock.