Penny Stock: Only buyers in this smallcap stock that has already generated returns of 600 per cent in just one year!
By hitting back-to-back upper circuits, shares soared more than 168 per cent in just one month!
Weak economic data and aggressive statements from the Federal Reserve caused Wall Street to experience a significant selloff overnight, with major US indices tumbling nearly 2 per cent. Indian benchmark indices opened lower on Thursday, mirroring the weakness in global markets.
The majority of sectors were trading lower, with utilities and power stocks bearing the brunt of the damage. The rally in some Small-Cap stocks, on the other side, helped broader indices remain more stable than main indices.
Despite market weakness, shares of Adcon Capital Services, a small-cap penny stock, continued their trend of locking at upper circuits. On an intraday basis on Thursday, shares of Adcon Capital Services climbed and locked at a 5 per cent upper circuit at Rs 5.26 per share on the BSE, setting a new 52-week high.
By hitting back-to-back upper circuits, shares soared more than 168 per cent in just one month and delivered outstanding returns of 600 per cent over the last year, implying that a Rs 1 lakh investment in this stock a year ago is now worth more than Rs 7 lakh!
A listed NBFC, Adcon Capital Services is in the business of providing loans and advances, making investments in other businesses and offering other financial services. Keep a close eye on this scrip for the upcoming sessions!