Multibagger Returns of 255% In 1 Yr: Penny Stock Under Rs 50 Hits 5% Upper Circuit; Here’s Why

Spice Lounge Food Works Limited declared that Circoloco Mumbai 2026, India's official debut into the worldwide Circoloco circuit, will be organized by XORA World, its cultural platform. The event, which will take place at Mumbai's Jio World Garden on April 19, 2026, will establish Mumbai as the entry point to South Asia for the internationally renowned underground music and lifestyle brand Circoloco.

As of March 10, 2026, shares of Spice Lounge Food Works Ltd (previously Shalimar Agencies Ltd) are trading at an upper circuit limit of Rs 30.16 on the Bombay Stock Exchange (BSE), gaining 4.98% from the previous close, after the announcement. The stock is currently trading far below its 52-week high of Rs 72.20, but it is still much above its 52-week low of Rs 7.69.

Circoloco, one of the most recognized underground music and lifestyle companies in the world, was established in 1999 in DC-10 Ibiza. Ibiza, London, Paris, New York, Miami, Tulum, Dubai, and Mumbai are all part of its worldwide reach. Circoloco Mumbai edition is an example of the brand's deliberate entry into the Indian market.

Marco Carola, Michael Bibi, Chris Stussy, Mau P, Beltran, Jamback, and Sweely are among the carefully chosen global lineup for the 2026 Mumbai edition.

Mr. Mohan Babu Karjela, Chairman & Director of Spice Lounge Food Works Ltd, said: "Circoloco is not just an event - it is a globally respected cultural institution. Bringing this platform to Mumbai signals the next stage of XORA World's evolution. With India entering the global Circoloco map, we are positioning Spice Lounge Food Works as an integrated hospitality and experiential company capable of executing internationally benchmarked formats. This reinforces our long-term vision of building scalable lifestyle ecosystems alongside our core F&B business."

A multifaceted hospitality and leisure company, Spice Lounge Food Works Limited operates in the food, beverage, nightlife, and experiential sectors. Blaze Kebabs, Xora, Salud, Buffalo Wild Wings, and Wing Zone are just a few of the owned and franchised brands in its portfolio. With gains of over 255% over the past year and an astounding 2,373% over the last five years, the stock has been a remarkable multibagger in the long run.

On November 24, 2025, it reached its 52-week high of Rs 72.20, signifying a time of significant market interest and positive momentum. But on March 10, 2025, the stock dropped to a 52-week low of Rs 7.69, underscoring the tremendous volatility it went through that year. The stock has made a tremendous comeback from its 52-week low to its current market price of Rs 30.16. The stock has gone up by around 292%, or nearly quadrupled, from its lowest point in the previous year, from Rs 7.69 to Rs 30.16. However, the current price of Rs 30.16 indicates that the stock is still trading around 58% behind its 52-week high when compared to its yearly peak of Rs 72.20.

Although there has been a rebound, the stock still has a long way to go before reaching its 52-week high, as seen by the current price level, which takes it well above its yearly bottom but far below its peak.