Multibagger in less than 1 month: Investors should keep an eye on this small-cap stock!
In less than, 1 month the stock gave multibagger returns of 116.12 per cent whereas BSE Small-cap was down by 2.75 per cent.
One of the Top Gainers on BSE on Friday, shares of PNGS Gargi Fashion Jewellery Ltd surged and reached an upper price band of Rs 129.35 per share, after being locked in the 5 per cent upper circuit. Furthermore, the company's share price is skyrocketing, with back-to-back upper circuits and 52-week highs since the IPO.
PNGS Gargi Fashion Jewellery SME IPO took place in December 2022 with an issue size of 26,00,000 equity shares of a face value of Rs 10 aggregating up to Rs 7.80 crore. The initial public offering (IPO) bid began on December 8, 2022 and ended on December 13, 2022, with an IPO price of Rs 30 per share and a minimum order quantity was 4000 shares. The shares of the company were listed on BSE on December 20, 2022 at Rs 57 per share.
PNGS Gargi Fashion Jewellery Ltd was incorporated in 2009. The company is engaged in the retail business of costume and fashion jewellery under the brand name "Gargi by P. N. Gadgil & Sons" launched in 2021 under the artificial jewellery segment. The company deals in 92.5 per cent hallmark-certified sterling silver jewellery and brass jewellery, idols, gift items and a wide range of different products.
According to the financials, the company has a market cap of Rs 124.54 crore. In H1FY23, the net sales were 11.89 crore and the net profit was 2.13 crore. In 5 days, the stock rallied over 39.69 per cent and in less than, 1 month the stock gave multibagger returns of 116.12 per cent whereas BSE Small-Cap was down by 2.75 per cent. Investors should keep an eye on this multibagger stock.