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Multibagger stock: Amid Indian indices soaring new highs, a lot of BSE SME stocks have delivered multibagger return to its shareholders. However, these stocks have managed to deliver whopping returns to only those investors who remained invested in the stock for long-term. 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, still, the energy stock is one of the multibagger stocks in 2021 in India. 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 per stock levels in this period.
Gita Renewable Energy share price history
As per the history of Gita Renewable Energy shares, the stocks has remained a money-making stock throughout the year, as the stock scaled from ₹5.52 per equity share levels to ₹120.15 mark — logging near 2000 per cent rise in this period. If we look at its Year to date (YTD) return, thes tock 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 near 50 per cent in the last one month.
However, in the last six month, the stock has shot up 15.70 per equity share levels to ₹120.15 per stock mark — logging 665 per cent return for its shareholders.
Impact on investors’ money
Taking cue from Gita Renewable Energy share price history, if an investor had invested ₹1 lakh in Gita Renewable Energy shares one month ago, its ₹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 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.
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