Multibagger Stock: At a time when Indian markets are making new highs every day, many BSE SME stocks are proving to be multibaggers. One such share is Gita Renewable Energy. The stock was under selling pressure in the last one month. Due to which it fell from its 52-week high level of Rs 300 to Rs 120.15. But despite this decline, this energy sector stock remains a multibagger in 2021.
Shares of Gita Renewable Energy have given a return of 665% in the last 6 months. During this, its shares increased from the level of Rs 15.70 to Rs 120.15.
Gita Renewable Energy’s stock has had a tumultuous journey despite its impressive results over the past 6 months. In the last one year, the shares of Gita Renewable Energy have increased from Rs 5.52 to Rs 120.15. Shares of Gita Renewable Energy have given 2000% return to investors in this one year.
If we look at the returns so far this year, then the shares of Gita Renewable Energy have given a return of 1600 percent. However, after this, due to tremendous profit booking, the company’s shares fell short circuit. Shares of Gita Renewable Energy fell 50% in the past month. Despite this decline, Gita Renewable Energy shares have given a return of 665% in the last 6 months.
If you had invested Rs 1 lakh in Gita Renewable Energy shares even three months ago, your return today would have been Rs 2.27 lakh. If you had invested Rs 1 lakh in the shares of Gita Renewable Energy 6 months ago, then today your amount would have been Rs 7.65 lakh. On September 9 also, shares of Gita Renewable Energy saw a lower circuit of 5% and closed at Rs 97.90.
Sumeet Bagadia, executive director, Choice Broking, said the stock has made investors rich, but it seems to be in a lower circuit for the past few trading sessions. Therefore, buying new in it should be avoided.
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