Multibagger stock below Rs 200: Keep an eye on this stock, which was locked in the upper circuit on January 20

The stock gave multibagger returns of 119.40 per cent year-to-date while BSE Small-cap Index plunged 1.85 per cent.

On Friday, amid volatility, the benchmark indices ended the day lower with BSE Sensex Index down around 237 points or 0.39 per cent to a level of 60,621.77 and the NSE Nifty-50 Index was also down by 80 points or 0.44 per cent to a level of 18,027.65.  

Despite the fact that the indices were trading lower, Mangalam Seeds Ltd shares surged 5 per cent upper circuit to Rs 199.65 per share. Also, the stock traded at a new 52-week high of Rs 199.65. In recent trading sessions, the stock had hit back-to-back upper circuits and 52-week highs.   

Mangalam Seeds Ltd has a market cap of Rs 219.22 crore. The company is engaged in the business of production, processing and marketing of hybrid and GM seeds having a range of field crops and vegetable crops.  

Talking about the financials of the company, Mangalam Seeds Ltd reported positive results in both quarterly and annual financial statements. According to the quarterly consolidated financial statements, in Q2FY23 net sales rose by 79.37 per cent and net profit rose by 90.25 per cent compared to same quarter last year (Q2FY22).   

The stock gave multibagger returns of 119.40 per cent year-to-date while BSE Small-Cap Index plunged 1.85 per cent. Investors should keep an eye on this stock.