Ashish Kacholia gains Rs 4,94,40,000 from this multibagger penny stock in just 1 day; Do you have it?
From Rs 31.08 per share to Rs 98.91 per share, the stock gave multibagger returns of 218 per cent in just 3 years.
On Monday, the Indian stock market ended the trading session in green with the BSE Sensex Index up by 528 points or 0.79 per cent at 67,127 and the NSE Nifty-50 Index up 177 points or 0.89 per cent at 19,819.95. In the broader market, the indices were also trading in green with BSE Mid-Cap Index up by 1.20 per cent and BSE Small-Cap Index up by 0.70 per cent.
Along with the market in green, one of the Top Gainers on BSE, this multibagger penny stock hit a 20 per cent upper circuit to Rs 98.91 per share from its previous closing of Rs 82.43. The shares of the company saw a spurt in volume by more than 30 times on BSE.
Before we reveal the penny stock name, let's take a look at how the ace investor Ashish Kacholia made Rs 4,94,40,000 in just 1 day. Here are the details:
Ashish Kacholia, an investor owns 30,00,000 shares of this company or 2.23 per stake as of June 2023. Hence, the stock hit a 20 per cent upper circuit to Rs 98.91 per share from its previous closing of Rs 82.43.
Therefore, 30,00,000 shares x (98.91 per share – 82.43 per share) = Rs 4,94,40,000 in just 1 day.
(The stock price closed at Rs 98.91 today, up 16.48 points from Friday's closing price of Rs 82.43. This represents a gain of 20 per cent, which is the upper circuit limit for the stock)
Financials about the company: -
The company has a market cap of over Rs 1,331.49 crore with a 3-year stock price CAGR of 37 per cent. According to the Quarterly Results, the net sales increased by 4.16 per cent to Rs 62.55 crore and net profit increased by 125.7 per cent to Rs 2.43 crore in Q1FY24 compared to Q4FY23. According to the annual results, the net sales increased by 36 per cent to Rs 341 crore in FY23 compared to FY22. The company reported a net profit of Rs 8 crore in FY23 compared to a net profit of Rs 230 crore in FY22.
Additionally, the Share Allotment Committee of the company on September 10, 2023, allotted 1,01,666 equity shares of Rs 2 each in accordance with the Employee Stock Option Plan - 2005 (ESOP-2005) of the company. The shares of the company were spun off on June 08, 2023, and the subsidiary became a separate, independent company.
And now, the moment you've all been waiting for! The name of the multibagger penny stock that is creating all this excitement is NIIT LTD.
NIIT Ltd is a leading Skills and talent development corporation that is building a manpower pool for global industry requirements. The company was established in 1981 to help the nascent IT industry overcome its human resource challenges. From Rs 31.08 per share to Rs 98.91 per share, the stock gave multibagger returns of 218 per cent in just 3 years.
Do you have this stock in your portfolio? Do let us know in the comment session below
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.