Back-to-back upper circuit alert: Multibagger penny stock changed its name and skyrocketed to a 52-week high; check if you're holding!

The stock delivered a multibagger return of 206.63 per cent over the past year, solidifying its status as a multibagger stock

You might have heard of individuals adding an extra letter or altering their names based on numerology. There's a specific reason behind such changes. Changing names is believed to have the power to enhance the positive energy already present in one's name chart, bringing forth positivity that can influence the future. Now, you might be wondering, what does a name change have to do with the stock market? Allow me to share an interesting story about a company that recently changed its name and subsequently experienced back-to-back upper circuit success.

The company in question transitioned from Essar Securities Ltd to Yunik Managing Advisors Ltd. Following this change, the stock was consistently locked at an upper circuit limit, reaching nearly 5 per cent at Rs 15.27. This alteration in the company's name unquestionably stirred the stock price, evident in its consecutive fourth upper circuit hits and ultimately resulting in a fresh 52-week high on the Bombay Stock Exchange (BSE).

Remarkably, the stock delivered a multibagger return of 206.63 per cent over the past year, solidifying its status as a multibagger stock. Its 52-week high and low are recorded at Rs 15.3 and Rs 3, respectively, with a face value of Rs 10. An intriguing aspect lies in the ownership structure, with a substantial 77.51 per cent stake held by the public (Non-Institutional Holding), and 3.67 per cent (equivalent to 524,936 shares) held by the Investor Education and Protection Fund (IEPF).

The IEPF, governed by the IEPF Authority, operates as a statutory body under the Companies Act of 2013, established by the Ministry of Corporate Affairs, Government of India. Its primary objective is to administer the Investor Education and Protection Fund, promoting investor education, awareness, and protection. Notably, the IEPF Authority facilitates the refund of shares, unclaimed dividends, matured deposits/debentures, and share application money to investors.

Disclaimer: The article is for informational purposes only and not investment advice.