Shares below Rs 100: Only buyers in this multibagger smallcap stock despite market weakness!
In just one month, shares more than doubled investors' wealth, soaring over 100 per cent!
The Indian headline indices closed sharply lower on Friday, heavily dragged down by losses in the power, utilities and oil & gas sectors. The BSE Sensex tumbled 1.45 per cent to 59,330 level at the close. The Nifty 50 index plunged 1.61 per cent to a level of 17,604.
Despite market weakness, healthcare stocks held strong, with the BSE Healthcare index ending the session half a per cent higher, led by a 10 per cent gain in Unichem Laboratories Ltd. Even in a falling market, Eiko Lifesciences Ltd, a multibagger Small-Cap stock, drew investors with its back-to-back upper circuits.
On an intraday basis on Friday, shares of Eiko Lifesciences Ltd surged and locked at a 5 per cent upper circuit at Rs 96.20 per share on the BSE, setting a new 52-week high. In just one month, shares more than doubled investors' wealth, soaring more than 100 per cent!
Taking into account the company's financial performance, it reported a significant boost from a loss of Rs 0.06 crore to a profit of Rs 0.26 crore in Q3FY23. Recently, the company announced that a meeting of the company's board of directors will be held on January 31, 2023, to consider the proposal for raising funds.
Eiko Lifesciences Ltd is a global manufacturer, supplier and exporter of speciality chemicals and pharma intermediates.
Keep a close eye on this scrip for the upcoming sessions!