Multibagger in just 1 month: Keep an eye on this penny stock, which was locked in the upper circuit on December 27

The stock gave multibagger returns of 138.38 per cent in just 1 month.

One of the Top Gainers on the BSE today, shares of Adcon Capital Services Ltd surged 5 per cent and reached an upper price bank of Rs 2.36 per share. The company's stock price has recently increased significantly and made back-to-back upper circuits. The stock gave multibagger returns of 138.38 per cent in just 1 month.

In quarterly and annual financial statements, the corporation presented excellent figures. According to annual reports, in FY21 the net profit was 0.12 crore, it skyrocketed to a net profit of Rs 3.77 crore or 241.67 per cent in FY22. The recent substantial acquisition of shares and takeover by "Paresh Dhirajlal Shah" has resulted in some new buying today.

Adcon Capital Services Ltd is presently operating in financial services viz. capital market operations, corporate financing, investment and trading, project and management consultancy services of financing, etc. Today, the shares of the company saw a spurt in volume by more than 5.94 times on BSE.

The stock is up by 314.04 per cent year to date while BSE Sensex has only increased by 2.95 per cent year to date. Investors must keep an eye on this stock.