Multibagger stocks: At least nine penny stocks delivered multibagger returns in the ongoing six-week long election season that kicked started on April 19. A total of 31 stocks climbed over 50 per cent, data compiled from corporate database AceEquity suggests.
From Rs 4.90 per share to Rs 17.28 apiece, Healthy Life Agritec Ltd shares zoomed 252 per cent in the election season. On a clarification sought by stock exchanges earlier this month, Healthy Life Agritec said it has no material information that is required to be disclosed to the exchanges, which would have a bearing on volume and price movement of its scrip.
“The company believes that volume and the movement in share price of the company is purely due to market conditions and market driven and the Company is no way connected with any such movement in price,” it said.
This company is engaged in the business of trading of raw milk in Maharashtra and Live Chicken and Agro Products in Karnataka and Maharashtra.
Suncity Synthetics, a Jodhpur-based manufacture of nylon and polyester granules, saw its shares rallying to Rs 25.17 level from Rs 7.58 level, up 232 per cent. Recently, a buyer named Ms Sumita Mishra made an open offer for acquisition of up to 12,85,908 shares from public shareholders, representing 26 per cent of the voting share capital of Suncity Synthetics, at an offer price of Rs 7 per share.
Shares of Franklin Industries Ltd are up 160 per cent in the six-week period. The company had fixed May 13 as the record date for right issue which is underway. The issue which opened on May 24 would conclude on June 11.
Jyothi Infraventures Ltd reported nil sales and a standalone loss of Rs 1.87 crore for the March quarter. Yet the stock gained 147 per cent since April 19.
Mercury Trade Links Ltd, RattanIndia Power Ltd, Kothari Industrial Corporation Ltd, iStreet Network Ltd and Rollatainers Ltd saw their stocks rallying 100-146 per cent during the period mentioned. Except for RattanIndia Power Ltd, which has a m-cap near Rs 10,000 crore, all others were microcaps/SMEs, with m-caps not above Rs 115 crore.