This Multibagger Penny Stock Priced At Just Rs. 2 A Yr. Ago Has Given 10,915% Return

Penny stocks if the fundamentals of the scrip are well understood and seem to be promising can be highly lucrative to your pocket. Though these are hard to find but can be good bets. Likewise here is a penny stock now classified as a small cap as per the December market cap categorisation.

This Multibagger Penny Stock Priced At Just Rs. 2 A Yr. Ago Has Given 10,915% Return

Stock price trajectory

This textile company stock which we will tell about in due course has had an outstanding run gaining 10,915% in the last 1-year from Rs. 2 to Rs. 220.3 per share currently. Now in the last 3-months time the return has been to the tune of 1959%. While YTD return has been a good over 420%.

The last week the scrip hit back to back upper circuit and rose to current levels.

Why the sharp rally?

If experts are to be believed this is a high beta stock that is exposed to high volatility and currently has become a 'circuit to circuit' stock with very low volume. Further the volatility that is currently the very nature of the Indian markets should not influence even the highly aggressive trader to invest in the scrip.

Q3Fy22 financials:

The company's financials do not look very promising with revenue from operation seeing only a slight improvement in the period under review. Also, the company continues to be a loss making entity with Q3 loss at Rs. 28.25 crore as against the last period's loss of Rs.37.23 crore.

About the company

SEL or SEL Manufacturing is a leading vertically integrated textile conglomerate, operating in various textile sub-segments having facilities right from spinning, knitting, processing of yarns and fabric, to the value added products viz. terry towels and ready-made garments.