Home / Markets / Stock Markets /  Multibagger dividend paying stock hits upper circuit on five straight sessions
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Multibagger stock: Investing in penny stocks is considered highly risky as a single trigger leads to high volatility in the scrip. However, if a company's business is sustainable and its economic viability is expected to remain maintained, high risk traders invest in penny stock to get alpha return in small time. Mishtann Foods shares are glaring example of it. The dividend paying stock, which announced interim dividend twice in FY22 has given more than 200 per cent return in last one year whereas it has been hitting upper circuit for last five sessions.

Mishtann Foods share price history

After climbing to its 52-week high of 19.55 apiece levels in January 2022, this multibagger penny stock has been under base building mode. In last one month, this multibagger stock has tumbled from 12.33 to 9.40 apiece levels, losing near 24 per cent in this time horizon. IN YTD time, this BSE listed stock has recorded around 14 per cent correction. However, in last one year, Mishtann Foods share price has appreciated from around 3 to 9.40 apiece levels, logging around 215 per cent rise in this period.

Recently, Mishtann Foods Limited was in news for fetching good response on the large variety of salts. In its exchange communication, Mishtann Foods Limited informed, "Mishtann Foods Ltd. (MFL) engaged in processing and marketing of a large variety of rice with a focus on Basmati Rice, and variety pulses has experienced a positive response for Salt, which was recently launched by the Company while expanding their product line. MFL's Salt which had bagged several orders from major retail stores, has Successfully executed these orders and is receiving good response of its salt. The Company also received an encouraging response to its "Rock Salt" Variety which has buoyant demand in many markets across India. Also, on the auspicious occasion of "Rath Yatra" on 1st July 2022, the company is launching a new variant in salt in the form of salt crystals which has several nutritional benefits. The Company has journeyed into unchartered spheres and territories, elevating enroute the industry standards due to stringent quality control practices, is on a growth path with several new plans."

The small-cap company ended on Monday with a market cap of 470 crore. Its trade volume on Monday was 2,677,723 whereas 52-week high of this BSE listed multibagger penny stock is 19.55 per share. The 52-week low of this BSE stock is 1.94 per share. So, the penny stock has emerged multibagger in last one year, delivering staggering return to its shareholders. Book value per share of Mishtann Foods share is around one.

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