Multibagger Stock: Amid the buzz in the chemicals segment, the shares of the newly listed Meghmani Finechem have delivered around 120 per cent returns to their shareholders in about 45 days of their relisting as a separate entity. Let us tell you that this chemical stock was re-listed on NSE on 18 August 2021 at Rs 386 per share.
The share price of Meghmani Finechem has increased from the level of Rs 386 per share to Rs 856 per share level today. In this way, it gave multibagger returns to its investors in about 45 days of listing.
Share price of Meghmani Finechem Limited, a leading manufacturer of chlor-alkali products and its value-added derivatives, touched an all-time high of Rs 856 on Friday after touching the upper circuit. On Thursday also, the share price had gained 9.69 percent.
The high price of caustic soda is one of the main reasons behind the recent rally in this chemical stock. This is expected to help the company’s revenue. The supply chain of caustic soda has been disrupted due to power outages in China and Hurricane IDA in the US.
The stock made a strong opening in the Indian markets after opening at Rs 386, a premium of nearly 200 per cent over parent entity Megamoney Organics Ltd’s closing price (Rs 138.25). Meghmani Finechem Limited was listed as a separate entity with the objective of maximizing value for shareholders.
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