Multibagger Stock: Up over 1000%, this stock turned ₹10,000 into ₹1.19 lakh in a year

Shares of Ceenik Exports have given phenomenal returns to their investors in the last 1 year. The penny stock has delivered a whopping 1096 percent return to its new high of ₹147.70 currently from ₹12.35 in January 2023.

This implies that an investment of ₹10,000 in this penny stock in January 2023 would have turned into ₹1.19 lakh now.

Ceenik Exports stock price trend

The stock hit its record high of ₹147.70 on January 19, 2024. It has now skyrocketed over 1413 percent from its 52-week low of ₹9.76, hit on April 2023.

Read here: Penny stock turns multibagger in six months. ₹1 lakh turs to ₹12.50 lakh

The stock has already rallied 34 percent in January so far, extending gains for the sixth straight month since August 2023.

Between August 2023 and January 2024 (to date), the stock has soared almost 1118 percent.

In 2023, the stock gave positive returns in seven months and was in the red in five. It also gave multibagger returns in 1 month - September, surging 103.5 percent. Apart from that, it jumped over 51 percent in November, 48.4 percent in December, 47.4 percent in October, around 35 percent in August, 15.6 percent in May, and 10 percent in April.

However, it shed the most in January, down 40 percent, followed by February, down 14 percent. It also lost 3.4 percent in March and 6.7 percent in July.

Read here: Multibagger! Up 525%, this penny stock turned ₹21.5 into ₹134 in just 3 years

Looking at the long-term performance, the shares produced significant returns, as in the last three years, they have zoomed 1872 percent and in the last five-year period, they soared 1767 percent.

Earnings

In the December quarter results (Q3FY24), the company posted a profit of ₹1.09 crore as against ₹21 lakh in the same quarter last year. Meanwhile, its total income rose 22 percent.

About the firm

Ceenik Exports ( India ) Ltd was founded in 1995 as a merchant exporter. It engages in the property leasing business in India. Over the years, the firm has grown in both size and scale with a setup that includes knitting, dyeing, printing, finishing and garmenting departments.

Read here: These five penny stocks have started 2024 with a bang

Despite the impressive returns displayed by the stock, it is imperative to underscore the inherent risks linked with penny stocks. These stocks are known for their high-risk profile, making them unsuitable for investors inclined towards a risk-averse strategy. It is recommended that only those investors who are comfortable with high-risk scenarios should contemplate investing in such stocks. Even for these high-risk investors, it is advisable to allocate only a small portion of their portfolio to these high-risk assets. Seeking professional guidance from a financial advisor before making any adjustments to the portfolio is strongly emphasised.

Disclaimer: This story is for educational purposes only. Please speak to an investment advisor before making any investment decisions.