Buy This Penny Stock Priced At Just Over Rs. 5 For Multibagger Returns In 2022

Updated: Thursday, February 24, 2022, 6:17 [IST]

For aggressive investor class with a good degree of risk appetite, there is one penny stock that is seen to turn multibagger for 2022. This stock is currently price at just a tad above Rs. 5 at Rs. 5.25 per share and in trade today (February 23, 2022) is locked at the 5% upper circuit limit.

Experts view on the penny stock given as a ‘Buy'

Technically, the stock is seen to be strong on chart pattern and has led to interesting price action as well. When there is trend reversal in the secondary market, the stock is expected to see sharp upside. The stock till the end of 2022 is seen to hit a price of Rs. 12 i.e. a gain of 140%.

Speaking on Vikas Lifecare stock price outlook; Anuj Gupta, Vice President at IIFL Securities said, "The stock has breached consolidation zone and has been able to sustain above this zone even when the market sentiment has remained bearish for last one week. It is looking positive on chart pattern and may give sharp upside move once there is trend reversal in the secondary market." He said that the penny stock is facing resistance at around ₹7.50 to ₹8.0 levels. But, once it breaches this hurdle, it may give sharp upside moves in short to medium term.

Company’s Q3Fy22 financials

The company has been faring good on the financials, with revenue from operations at 106.74 crore. Also, the net profit at the company after tax has been at Rs. 2.88 crore, expanding immensely YoY from Rs. 0.07 crore in the same quarter a year ago.

About Vikas Lifecare:

The scrip has been a multibagger in the last 1-year giving return to the tune of over 101%. The company is a polymers and polymers additive related Chemicals trading entity. The company is based out of Delhi.