Indian markets opened in the green on Tuesday and market observers are waiting for cues from the economic survey that will be tabled today in the Parliament. Investors are closely tracking updates and opinions regarding the budget. Here are three stocks that turned multibaggers and generated more than 10x returns after the previous budget:
Mercury Metals
Mercury Metals is engaged in the business of trading ferrous and non-ferrous metals. Its share price increased from ₹ 0.89 to ₹ 22.24, giving multibagger returns of 2398.87%. In other words, it has multiplied investors’ money by more than 23 times (23x). If an investor would have invested ₹ 1 lakh in the company’s shares a year ago, the value of their holdings would have been ₹ 24.98 lakhs today!
Hemang Resources
Hemang Resources is engaged in the trading of all types of Coal, Stevedoring, logistic services & trading in land. Its share price increased from ₹ 6.18 to ₹100.10 apiece, giving multibagger returns of 1519.74%. In other words, it has multiplied investors’ money by more than 15 times (15x). If an investor would have invested ₹ 1 lakh in the company’s shares a year ago, the value of their holdings would have been ₹16.19 lakhs today!
Ambar Protein Industries
The company manufactures edible/non-edible oils, oil cakes and ‘d’ oil cakes. Its share price increased from ₹ 25.70 to ₹ 381.40, giving multibagger returns of 1384.05%. In other words, it has multiplied investors’ money by more than 13 times (13x). If an investor would have invested ₹ 1 lakh in the company’s shares a year ago, the value of their holdings would have been ₹ 14.84 lakhs today!
A few other stocks include Knowledge Marine and Engineering Works, Cressanda Solutions, Medico Remedies, Choice International, Ugar Sugar, Vadilal Industries and Kirloskar Electric.
Many of the above-mentioned companies used to be penny stocks, a year ago. Investors should be careful and note that a complete analysis of these stocks is required before investing in them. Penny stocks may give high returns, but they have the potential to wipe away the entire capital invested in them.
Written by Simran Bafna
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