Hidden gem: This multibagger microcap stock got locked in the upper circuit; soars to a fresh 52-week high!
This hidden gem multibagger has shot-up more than 50 per cent in the last three trading sessions and registered a fresh 52-week high.
On Wednesday, Indian benchmark indices saw a gap-up opening but trimmed their gains to trade in positive terrain. However, one stock managed to buck the trend and soar to its upper circuit limit, delivering jaw-dropping gains of over 600 per cent, namely Gretex Corporate Services Ltd.
Gretex Corporate Services Ltd is a financial and consultancy service provider that started out as a project finance service provider in 2008. It is a SEBI registered merchant banker that key business activities include fund raising management activities, investment advisory, underwriting of issues, corporate advisory services and more. Over time, the company has expanded its product portfolio and now offers services in different areas, including capital markets, corporate finance, debt syndication, corporate restructuring and compliance advisory.
Since its listing in 2021, the equity shares of Gretex Corporate Services Ltd have been actively traded on the SME segment of BSE Limited. The company has grown multifold and performed significantly well over the period. In fact, the Board of Directors, at their meeting held on September 02, 2022, approved and recommended a bonus issue of eight equity share for every one equity share (8:1) to reward existing shareholders, encourage small investor participation, increase liquidity of the equity shares and expand the retail shareholders' base.
Despite the markets dwindling on the backdrop of global banking rout, Gretex Corporate Services Ltd has been a standout performer. Recently, the company announced that it has filed Draft prospectus of three companies with BSE for their proper initial public offering and is the book running lead manager to the issue of Sudarshan Pharma Industries.
This hidden gem multibagger has shot-up more than 50 per cent in the last three trading sessions and registered a fresh 52-week high.