If you had invested Rs 1 lakh in this stock 6 months ago, you would have got Rs 34.78 lakh today.

Multibagger Stock: The stock of Suraj Industries has given 3,378% return to its shareholders in the last six months. The penny stock, which stood at Rs 2.14 on June 2, 2021, rose to an all-time high of Rs 74.45 on BSE on Thursday. An amount of Rs 1 lakh invested in the stock of Suraj Industries six months ago would have become Rs 34.78 lakh today. In comparison, the Sensex has gained 12.5 per cent during this period.

The stock has gained 175.2% in the last 21 sessions. On Thursday, the stock opened with a gain of 4.93% at Rs 74.45 on the BSE. The market cap of the firm increased to Rs 64.40 crore. A total of 150 shares of the firm traded at Rs 0.11 lakh on the BSE. On December 7, 2020, the Microcap share had hit a 52-week low of Rs 1.29.

The stock of Suraj Industries is trading above the 5 Day, 20 Day, 50 Day, 100 Day and 200 Day Moving Average. The stock has gained 162% in one month.

However, the long-term financial performance is not commensurate with the sharp rise in the firm’s stock. The firm reported losses in the seven quarters before the quarter ended March 2021. In the September 2021 quarter, the firm made a profit of Rs 0.82 crore as against a loss of Rs 0.08 crore in the corresponding quarter of the previous financial year.

Sales in the second quarter stood at Rs 14.96 crore as against Rs 0.39 crore in the September quarter of the previous financial year. On an annual basis also, the firm posted strong earnings performance. It made a profit of Rs 0.37 crore in the financial year ended March 2021, while it incurred a loss of Rs 0.46 crore in the financial year ended March 2020. Net sales for the financial year ended March 2020 increased to Rs 6.99 crore as against Rs 1.30 crore in the previous fiscal.

Suraj Industries is involved in the production of edible oil. The firm manufactures edible oils and vegetable ghee under the brand names ‘Aangan’ and ‘Apna’.

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