Multibagger Stock: In the last one year, there has been a huge increase in the shares of many companies. When investors bought these shares a year ago, their price was very low and now the prices have increased manifold. One of these is Proseed India, whose stock has given a huge return of 11,118% to its shareholders in one year. In simple language, in just one year, the luck of the people who bought the shares of this company has opened.
The company’s microcap stock was just Rs 0.32 on 20 August 2020, which has reached an all-time high of Rs 35.90 on BSE today. An amount of Rs 1 lakh invested in Proceed India stock last 12 months ago has turned into Rs 1.12 crore today. In comparison, the Sensex has gained 44.98% during this period. The stock has touched a record high of Rs 35.90 with a rise of 4.97% as against the previous close of Rs 34.20 on BSE.
The stock has gained 175.1% in the last 21 sessions. The stock opened with a gain of 4.97% on Friday and remained trapped in the upper circuit in the afternoon session. Share of Proceed India is trading above the 5 day, 20 day, 50 day, 100 day and 200 day moving averages. A total of 3,061 shares traded at Rs 1.09 lakh on the BSE. A low trading volume of shares indicates that a small number of shareholders have increased the stock by 5%.
Important things to know before investing
The market cap of the firm has increased to Rs 370.11 crore. The stock has gained 175.1% in one month. However, the excellent performance of the stock is not commensurate with the financial position of the firm. The company is running in losses, so investors should consider before trading in their shares. Sales in the firm have been zero in the last 10 quarters. It last recorded sales of Rs 0.54 crore in the quarter ended December 2018.
For the quarter ended June 2021, the company reported a loss of Rs 0.30 crore as against a loss of Rs 0.09 crore in the corresponding quarter of the previous financial year. The company’s net profit on a quarterly basis fell 102.32% from a profit of Rs 12.94 crore. The company is engaged in providing web development, web maintenance and support services to its step down subsidiary, Globe 7 Pte Ltd. The company focuses on two areas: online advertising and securities and derivatives trading.
Also read: Multibagger Stock: Rs 1.61 crore received in 10 years by investing Rs 1 lakh in this stock