Multibagger Stock 2021: In the last 21 days, there has been a jump of 176. percent in the stock of this company. The stock has gained 1,761 per cent since the beginning of this year.
In the year 2021, the shares of many companies listed in the stock market have made money investors rich. To capitalize on the boom in the market, people are now withdrawing money from gold and investing it in the stock. Smallcap stocks have given more returns to the investors as compared to the big stocks. We are telling you about one such multibagger stock which made investors millionaires in a year.
By the way, investing in penny stock is risky. Market experts also advise investors to stay away from penny stocks. But risk takers invest in it. A year ago, the stock of Adinath Textiles was also a penny stock. Its price was Rs 1.55, which has now increased to Rs 31.83. The company’s stock has gained 1,953 percent in the last one year.
10 thousand made 2 lakh in 12 months
A year ago, Rs 10,000 invested in Adinath Textiles shares has become more than Rs 2 lakh today. The share price was Rs 1.55 on August 25, 2020, which reached an olitum high of Rs 31.83 on August 25, 2021. In comparison, the Sensex’s return was 44.38 percent during this period.
The stock has gained 176.54 per cent in the last 21 days. The stock has gained 1,761 per cent since the beginning of this year. The firm has outperformed other companies in the sector in terms of stock market returns during the last one year. While the share of Page Industries increased by 52 percent, the share of Welspun Industries jumped 157 percent in a year. The share of KPR Mill rose 217 percent in one year. The share of Lux Industries has gained 199 percent.
Company started in 1979
Adinath Textiles was started in 1979 and has a market cap of Rs 15.43 crores. The company currently has 4800 installed spindles. The company also has many modern machines imported from Italy.
The promoters’ stake in the company stood at 43.64 at the end of the June quarter. Public shareholders held 56.36 per cent stake in the company during the same period. Adinath Textiles is engaged in the business of manufacturing Mixed Acrylic Yarn and Unstitched Suiting, Shirting and Dress Material.
The performance of the stock is not commensurate with the financial position of the company
However, the stellar performance of the stock is not commensurate with the financial position of the company. The company has registered zero sales in the last five quarters. The profit in the June quarter stood at Rs 23 lakh, as against Rs 5 lakh in the same period last year.
