Multibagger stock: Money magnet Charlie Munger once said that big money is not in the buying or selling, but in the waiting. This holds well when it comes to penny stock investment because investing in a stock means investing in a business, irrespective of its size. If a company is equipped enough to grow at a faster rate, then one should not look at the size of its business. Similarly, if a stock is good enough for investing, one shouldn’t look at whether it’s a small-cap, mid-cap or large-cap, or even a penny stock. On how a penny stock may make you rich in a short time, one needs to look at Rathi Steel and Power shares.
Rathi Steel and Power shares are one of those penny stocks listed on Dalal Street, that have delivered stellar returns to its shareholders. In the last six months, this penny stock has emerged as one of the multibagger stocks of India. In this time, this small-cap penny stock has risen from ₹3.30 apiece to ₹4.07 apiece level, delivering to the tune of 1,150 per cent to its long-term positional investors.
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Rathi Steel and Power share price history
In the last one week time, this small-cap stock has touched the upper circuit on all sessions, delivering to the tune of over 8 per cent return to its investors. In the last one month, this multibagger stock has risen from ₹30.12 to ₹41.07 per share level, delivering around a 35 per cent return to its investors. Likewise, in the last six months, this penny stock has risen from around ₹3.30 to ₹41.07 apiece level, logging to the tune of 1,150 per cent in this time.
₹1 lakh turns to ₹12.50 lakh
Taking cue from Rathi Steel and Power share price history, if an investor had invested ₹1 lakh in this multibagger penny stock, one week ago, its ₹1 lakh would have turned to ₹1.08 lakh today. Similarly, if an investor had invested ₹1 lakh in this multibagger stock one month ago, its ₹1 lakh would have turned to ₹1.35 lakh today. similarly, if an investor had invested ₹1 lakh around six months ago, buying one stock at ₹3.30, its ₹1 lakh would have turned to ₹12.50 lakh today. However, it would have become possible, provided the investor had remained invested in the penny stock throughout the time period mentioned.
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Rathi Steel and Power share news
The small-cap company is in news as its board of directors has approved allotment of up to 3,55,70,522 shares on preferential basis.
The multibagger penny stock informed Indian exchanges about the board meeting outcome saying, “With reference to the above captioned subject and in terms of the provisions of Regulation 30 of Listing Regulations, we wish to inform your good office that the Board of Directors of the Company, at their meeting held today i.e., January 18, 2024 commenced at 2.00 P.M. and concluded at 8.00 P.M.., inter alia Considered and Approved the Issue and allotment of upto 3,55,70,522 (Three Crores Fi ifty Five Lacs Seventy Thousand Five Hundred and Twenty Two Only) Equity Shares of face value of Rs. 10/- each to persons belonging to Non-Promoter Category, on preferential basis, at Rs32.25 for cash, subject to shareholders’ approval.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 19 Jan 2024, 03:06 PM IST