This low-priced stock has jumped over 10,000 per cent from its 52-week low. Do you own it?
But few stocks turnout to be a bargain hunt as in the future they tend to provide returns like a goldmine.
Indian benchmark indices have been buoyant in Samvat 2079 with Nifty and Sensex reclaiming their important psychological mark of 18,000 and 61,000, respectively. The Nifty is trading nearly 2.75 per cent away from its all-time high level of 18,604.45.
The 52-week high and low is used by stock market participants as an important indicator for gauging the comparative present value of the stock. The 52-week high level is of utmost important for the momentum traders. However, many don’t look at the 52-week low level as there’s an old investing adage that it’s never wise to catch a falling knife. That is actually sound advice.
A lot of stocks that plunge never end recover and they continue to dwindle without making any meaningful recovery. That said, there is an appeal in grabbing a stock that is down. Not all, but few stocks turnout to be a bargain hunt as in the future they tend to provide returns like a goldmine.
In this article, we are going to talk about one stock which has jumped exponentially and the figure could make your heart skip a beat! The stock has jumped a jaw dropping 10,000 per cent from its 52-week low.
The stock name is Kaiser Corporation and it is engaged in the business of printing of labels, articles of stationery, magazines and cartons. It has also diversified into Turnkey Projects Management through its subsidiary.
The stock had made a 52-week low of Rs 0.56 on November 02, 2021 and currently, the stock is trading at Rs 57, which translates into gains of more than 10,000 per cent!
Talking about the performance of the company for the quarter ended June 2022, it has reported a net loss of Rs 3.10 crore as expenses outweighed the total revenue earned by the company. Expenses for the quarter ended June 2022 was nearly Rs 9 crore, while the revenue was close to Rs 6 crore. The stock has more than halved from its 52-week high and hence, investing in such stocks could be a roller coaster ride