Multibagger Stocks: There has been a lot of volatility in the stock market for some time now. The Sensex and Nifty have fallen by about 5 per cent in the last one month and experts are expecting the market to continue softly. However, even in this weak market, some stocks are flying high and making their investors rich. One such stock is that of Sonal Mercantile Ltd, which has increased the wealth of its investors by three and a half times in the last one month and has given them bumper returns of more than 2,700 per cent in the last 7 and a half years.
Shares of Sonal Mercantile touched its new all-time level today i.e. on Tuesday 11 October and closed at Rs 162.10 with a gain of 5 per cent on BSE. The company’s shares have been in the upper circuit continuously for the last 17 trading days, on the basis of which it has given a handsome return of 251 percent to its investors in the last one month itself.
Shares of Sonal Mercantile have gained about 277 per cent since the beginning of the year 2022, while in the last one year it has given a return of 455.14 per cent to its investors. Sonal Mercantile shares first started trading on 9 February 2015 and at that time its price was only Rs 5.75, which has now increased to Rs 162.10. In this way, it has given a multibagger return of 2,719.13 per cent to its investors in the last 7 and a half years.
impact on investment
If an investor had invested Rs 1 lakh in the shares of Sonal Mercantile a month ago, today the value of his investment would have increased by 250 per cent to Rs 3.5 lakh. Similarly, if an investor had invested Rs 1 lakh in its shares a year ago, today its value of Rs 1 lakh would have increased by about 455 per cent to Rs 5.55 lakh.
Also read- IMF Forecast: IMF again reduced India’s economic growth forecast, the country’s GDP may remain at 6.8% in FY23
On the other hand, if an investor had invested Rs 1 lakh in the shares of Sonal Mercantile on February 9, 2015 and had maintained that investment till date, his value of Rs 1 lakh today would have increased by 2,719.13 per cent to Rs 28.19 lakh.
about the company
Sonal Mercantile is a Financial Services Company, which is in this business since 1985. The company’s focus is primarily on Inter Corporate Loans, Personal Loans, Long Term and Short Term Loans, Trade Financing, Bills Discounting, Project Appraisal, Loan Agents Guarantee etc. It is also involved in the trading of securities, shares and arbitrage business of stock and commodity markets.
financial position of the company
Sonal Mercantile’s net profit in the June quarter of the current financial year declined to Rs 44.04 lakh as against Rs 6.08 crore in the same quarter. At the same time, the company’s total income declined to Rs 19.53 crore in the June quarter, from Rs 27.50 crore in the previous quarter.
Disclaimer: The information provided here is given on the basis of share performance. It is important to mention that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. It is never advised to invest money here on behalf of Moneycontrol.