The shares of Adcon Capital services gained 4.81% on Wednesday and were locked at ₹ 5.01 apiece, at an upper circuit. Its shares have been on a gaining streak since November 2022.
Incorporated in 1994, Adcon Capital Services Ltd is a Non-deposit taking NBFC (Non-Banking Financial Company). It is engaged in the business of providing loans, investment in shares of other companies and providing other related financial services.
Adcon Capital Services’ shares are on an uptrend. They have been hitting the upper circuit for 17 sessions in a row. During this period, their share price gained 122.67% to give multibagger returns.
The company’s shares were trading at ₹ 0.69 on November 15, 2022. Since then their share price has increased by 626.09 % to give multibagger returns. Therefore, if an investor would have invested ₹ 1 lakh in the company’s shares two months ago, the value of their holdings would have been ₹ 7.26 lakhs today!
Adcon Capital Services is a penny stock with a market capitalization of ₹ 158 crores. Penny stocks are not frequently traded stocks and often experience sudden bouts of market volatility. They are quite risky to invest in and rarely make phenomenal returns. Investors might not find potential buyers when they wish to sell these shares.
Written by Simran Bafna
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