Multibagger stock: ₹1 lakh becomes ₹7.65 lakh in 6 months in this share

Multibagger stock: Amid Indian indices soaring new highs, a lot of BSE SME stocks have delivered multibagger return to their shareholders. These stocks have managed to deliver whopping returns to only those investors who remained invested in the stock. Gita Renewable Energy is one such BSE SME stock. It has been under selloff pressure for the last one month and has come down from its 52-week peak of ₹300 per equity share to ₹120.15 per stock levels. But the energy stock is still one of the multibagger stocks in 2021. Gita Renewable Energy shares have delivered 665 per cent return to its shareholders in the last six months as the stock rose from ₹15.70 to ₹120.15 levels in this period.

Gita Renewable Energy share price history

Despite the stellar return in the last six months, Gita Renewable Energy shares have seen on a roller-coaster ride. Over the past one year, the stock has risen from ₹5.52 per equity share levels to ₹120.15 — logging near 2000 per cent gain in this period. And if we look at its year-to-date (YTD) return, the stock has delivered near 1600 per cent return to its shareholders. But in the last one month, the stock has hit lower circuit on many occasions as heavy profit-booking is taking place in the counter. The stock has gone down nearly 50 per cent in the last one month.

Despite the sharp selloff in the past one month, the stock has shot up from 15.70 per equity share levels to ₹120.15 per stock mark — logging 665 per cent return for its shareholders.

Impact on investors' money

If an investor had invested ₹1 lakh in Gita Renewable Energy shares one month ago, ₹1 lakh would have become ₹50,000 as the stock has come down 50 per cent in this period due to heavy selloff pressure in this period. In the last 3 months, the stock has soared from ₹52.80 per stock levels to ₹120.15 mark — logging 2.27 times rise. So, if an investor had invested ₹1 lakh in this counter three month ago, its ₹1 lakh would have become ₹2.27 lakh today. Similarly, if an investor had invested ₹1 lakh in this counter 6 months ago, its ₹1 lakh would have become ₹7.65 lakh as the stock rose 7.65 times in this period.

Gita Renewable Energy share price outlook

On his view on Gita Renewable Energy shares, Sumeet Bagadia, Executive Director at Choice Broking said, "The stock has delivered whopping returns in past but has been hitting lower circuit in the last few trade sessions. One should avoid taking any fresh position in the counter until it stabilizes and starts quoting normally at the exchange."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.