Multibagger stock news:The Covid-19 pandemic created huge volatility in the stock market. In the last three months, several penny stocks have turned multibagger, giving investors massive returns. As the numbers suggest, as many as 800 penny stocks turned multibagger in the last 18 months. Furthermore, the good times for penny stocks have continued in 2022, with at least 20 giving massive returns about 700% in less than three months of the year. These stocks that had small values just months ago have registered record growth in a remarkably short time period.
Today, we will tell you about one such stock called Tine Agro Ltd, which is listed with the Bombay Stock Exchange (BSE). This stock turned an investment of just Rs 10,000 into a handsome Rs 1.43 lakh in just 3 months.
Rs 1.43 lakh from Rs 10,000 in just 3 months
At market closing on Tuesday (March 8, 2022), the stock price of Tine Agro Ltd stood at Rs 58.85. Just three months ago, the stock closed on Rs 4.10 on December 8, 2021. This means an outrageous increase of nearly 1335.366% within just 90 days. At this rate, an investment of Rs 10,000 at the low price would today amount to Rs 1,43,536.585.
Within this year itself, the stock has seen a massive uptick from Rs 6.80 on December 31 to Rs 58.85 on March 8. That means a massive spike of 765.441% already in 2022. In fact, the stock has more than doubled in the last month, having traded at Rs 23.75 back on February 8.
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What does the company do?
Tine Agro Ltd is company that is into the manufacturing of textile, woollen and furniture products with a pan-India reach. The company was established back in 1994 and trades on BSE and NSE.