₹3.25 to ₹66: Penny stock turns multibagger. Jumps 1900% in one year

Multibagger penny stock: Investing in low float penny stocks is risky because it tends to move either side on single trigger. However, high risk traders invest in penny stocks once they are convinced about the business model and financials of the company. Sometimes, these bets turn out a big feat for an investor as penny stocks have a tendency of beating key benchmark indices and generate alpha return by a huge margin.

For those who want to know how investing in penny stocks can change an investor's fortunes, they need to look at Hemang Resources shares. This BSE listed stock has risen from around ₹3.25 per equity share levels to ₹66 apiece in last one year, delivering around 1900 per cent return to its positional investors. This return becomes even bigger when we come to know that the year 2022 was full of uncertainties after the outbreak of Russian-Ukraine war and concerns of global inflation leading to economic slowdown.

Hemang Resources share price history

In last one week, this small-cap stock has hit upper circuit on two occasions and it has delivered more than 5.50 per cent return to its shareholders in this period. In last one month, this multibagger penny stock has risen from around ₹56.50 to ₹66 per share levels, logging near 15 per cent rise in last one month. In last six months, this multibagger stock has shot up from ₹45.20 to ₹66 per share levels, delivering to the tune of 45 per cent return to its shareholders. Likewise, in last one year, this multibagger penny stock has risen from around ₹3.25 apiece levels to ₹66 per share levels, clocking around 1900 per cent return in this time.

Impact on investment

Taking cue from Hemang Resources share price history, if an investor had invested ₹1 lakh in this small-cap multibagger stock one week ago, its ₹1 lakh would have turned to ₹1.05 lakh today. If the investor had invested ₹1 lakh in this multibagger stock one month ago, its ₹1 lakh would have turned to ₹1.15 lakh today. Likewise, if an investor had invested ₹1 lakh in this penny stock six months ago, its ₹1 lakh would have turned to ₹1.45 lakh today. However, an investor would have hit the jackpot if it had invested ₹1 lakh in this penny stock one year ago. In last one year, an investor's ₹1 lakh would have turned to ₹20 lakh today, provided the investor had remained invested in the scrip throughout the year.

Hemang Resources shares are available for trade on BSE and its trade volume today is 17,549 whereas its last 20 days average trade volume is 34,284. 52-week low of this stock is ₹3.16 whereas its 52-week high is ₹80.90 apiece, which is its life-time high as well.