Back-to-back upper circuits: This multibagger stock doubled the wealth of investors in just one month! Do you own it?
Despite all sectoral drawbacks, the shares of this company soared nearly 1,070 per cent in just six months!
On Tuesday, Indian headline indices opened lower on the back of gloomy global cues. Losses in multiple sectors pulled down the main indices, with almost all sectoral indices trading lower. The worst-performing sector was BSE Metals, which had early losses of almost 1.50 per cent but managed to pare those hits in the closing rally. Mercury Metals, a trending metal stock, on the other hand, drew investors due to its upward trend.
On an intraday basis on Tuesday, the shares of Mercury Metals rallied, hitting a 52-week high of Rs 12.05 per share on BSE after being locked in the 5 per cent upper circuit. Despite all sectoral drawbacks, the shares of Mercury Metals soared nearly 1,070 per cent in just six months, thanks to back-to-back upper circuits while its shareholders have witnessed outstanding returns of over 100 per cent in just one month!
The company was founded with the primary goal of participating in the business of dealing in scrap metal and metal. Since its establishment, the company has started trading in various kinds of ferrous and non-ferrous metals as well as metal scraps.
Higher input costs was the primary cause of the unsatisfactory quarter performance recorded by the metal industry but despite the obstacles, BSE Metals remained one of the top-performing sectors over the month, climbing 4.5 per cent.
Keep a close eye on this scrip for the upcoming sessions!