Multibagger stock: While stock market analysts are busy recommending multibagger stocks for 2022, some stocks in India have already included in the list of multibagger penny stocks for 2022. Shares of Sacheta Metals are one of them. Marked as a penny stock, the share price of Sacheta Metals has increased from ₹19.55 to ₹47.55 per level thereby giving the stock around 145 percent return to its shareholders in 2022.
Share Price History of Sacheta Metals
- Shares of Sachet Metals closed at ₹ 55 on BSE on 31 December 2021.
- On January 14, 2022, this stock closed at ₹ 55 per share on BSE. That is, in 2022, this multibagger penny stock has gone up about 145 percent.
- In the past one week, the shares of Sacheta Metals have touched the upper circuit of 5 per cent in all the 5 trading sessions, giving nearly 21.50 per cent returns to its shareholders in this period.
- In the past one month, this multibagger penny stock has risen from ₹95 to ₹47.55, a gain of 180 percent over the period.
Indian exchanges seek clarification on bullishness
The share price history of Sacheta Metals shows that the penny stock has been in a bullish trend since last one month. Otherwise, it has been slow for a long time. In fact, Indian exchanges have also sought clarification from the company regarding the sudden rise in its share price. However, the company clarified that the sudden jump in the stock of Sacheta Metals is completely ‘market driven’.
Replying to a query from BSE, Sacheta Metals Management said, “We would like to inform you that the Company has made all necessary disclosures in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and any material information Not hidden.”
On the sudden jump in the share price of Sachet Metals, the company replied, “The volatility in the share price of the company is purely due to market conditions and is purely market driven and the management of the company is not in any way Not linked to any such movement in price.
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