This penny stock did amazing, gave 881 percent return to shareholders in 8 months
Multibagger Stock: RattanIndia Enterprises stock has given 881% return to its shareholders in almost eight months. The penny stock, which was at Rs 4.48 (52-week low) on April 6, 2021, hit a high of Rs 43.95 on BSE on Monday. An investment of Rs 1 lakh made in RatanIndia Enterprises shares eight months ago would have become Rs 9.81 lakh today. In comparison, the Sensex has gained 16.85% during this period.
Shares of RatanIndia Enterprises today touched Rs 43.95 from a lower circuit of 5%. The firm’s market cap on the BSE was Rs 6,075 crore. The mid cap stock has lost 9.66% in the last 2 days. Shares on BSE opened at Rs 44.40 with a fall of 4% today compared to the previous close.
The stock is trading above 200 day moving average but below 5 day, 20 day, 50 day and 100 day moving average. The stock has gained 686.23% in one year and has gained 551.11% since the beginning of this year. Shares of RatanIndia Enterprises hit a 52-week high of Rs 70.65 on BSE on July 27, 2021
However, the financial performance has not been in line with the spectacular growth in the firm’s stock. It reported a loss of Rs 4.48 crore in the September quarter as against a net profit of Rs 0.05 crore in the September 2020 quarter. The firm recorded sales of Rs 1 crore in the first quarter of the current financial year as against zero sales in the corresponding quarter of the previous financial year.
It reported a loss of Rs 0.83 crore in Q1 as against a net profit of Rs 0.08 crore in the June 2020 quarter. The firm has seen zero sales from the quarter ended September 2018 till December 2020 quarter of the previous financial year. However, the company has outperformed its competitors in terms of market returns in the last eight months.
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