In the stock market, people are often looking for multibagger shares. This year, the Transglobe Foods company has proved to be one such multibagger. The share price of this company has increased by more than 81 times in a year.
A year ago i.e. in November 2019, the price of this share was just 2.80 rupees, but on November 14 i.e. on the day of Diwali, the price of this stock reached Rs 228.20 in Muhurat Trading. In this way, it gave 8050 per cent return to its investors.
If someone had invested Rs 1 lakh in this stock a year ago, he would have got Rs 81.50 lakh today. If you compare the 30-share index Sensex with this, the Sensex has got a return of only 8.78 percent.
Although it has seen some leniency in recent times, it has given tremendous returns to its shareholders as compared to a year ago. On Tuesday, November 17, Transglobe Foods shares fell 2 per cent to close at Rs 223.65.
The stock is trading above the 50-day, 100-day and 200-day moving average. On October 29 this year, the stock reached its 52-week high of Rs 302. This company is listed only on BSE and not in NSE.
However, the business and result of this company is not very good, so before investing in it, one has to be cautious and invest only after taking advice from an expert. The company has a net profit of about 18 lakh rupees in the financial year ended in March 2020.
What the company does: It is a food processing company and exports products like packed vegetables, fruit concentrates. Headquartered in Baroda, Gujarat, this company was established in 1986.