263509 SIP myths you must know!
As many as 26 stocks on the BSE have rallied between 1,000% to 10,000% from their respective 52-week lows
The stock market is known for creating fortunes of investors in the long run. But sometimes, it just takes months to turn investors into lakhpati with an investment of just Rs 10,000. This has just happened on Dalal Street amid the ongoing rally since March 2020 lows.
As many as 26 stocks on the BSE have rallied between 1,000% to 10,000% from their respective 52-week lows.
With a rally of 9,440%, Orchid Pharma is on a tear. Shares of the company have rallied over 95 times to Rs 1717.35 on April 15 from its 52-week low of Rs 18, scaled on November 2, 2020. The growth in share price indicates that those who invested Rs 10,000 in the stock in November would have now become Rs 9,54,083.
At present, Orchid Pharma is trading under IRP: Stage 2 on the BSE. In the IRP segment, an additional surveillance mechanism by the exchanges is applicable to such stocks. Intraday trading and BTST are not allowed and 100% margins are applicable. IRP stands for Corporate Insolvency resolution process.
Last year, Dhanuka Laboratories acquired Orchid Pharma as per an insolvency resolution plan that was approved by courts and the debt-laden company’s lenders.
Anjani Foods is next on the list. The scrip has rallied 3,084% to Rs 221 from its 52-week low level of Rs 6.93, scaled on May 6 last year. The growth indicates that the stock has grown investors’ wealth by nearly 32 times in just 11 months.
Ashiana Agro Industries, Raj Oil Mills, Svarnim Trade Udyog, Shree Worstex, Tanla Platforms, Jaykay Enterprises and ARC Finance also rallied between 1,500%-2,650% from their respective year’s low levels.
Overall, benchmark equity indices BSE Sensex and NSE Nifty have rallied more than 60% during the past one year. Analysts believe that robust inflows by foreign institutional investors coupled with liquidity measures taken by RBI and government-aided the domestic equity market.
Flomic Global Logistics, RRIL, Hexa Tradex, Standard Batteries, Modern Insulators, GRM Overseas, Goyal Associates, Danlaw Technologies, Subex, Bafna Pharmaceuticals, Prismx Global Ventures, CG Power & Industrial Solutions, Saraswati Commercial, Premier Synthetics, Texel Industries, Adani Total Gas and Shri Bajrang Alliance stood among other players which rallied more than 1,000% from their respective 52-week low levels.
(Disclaimer: Stocks mentioned in the article are for information purpose only. Consult your financial advisor before take any positive in the above-mentioned stocks)