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Multibagger penny stock: Investing in penny stocks is risky due to its high volatile character. However, investors invest in such stock for higher return in small time provided the company has strong and sustainable business model and other strong fundamentals to boost the market sentiment. Pilita share price is a glaring example of how one can get stellar return from a penny stock in small time. It has doubled shareholders' money in mere 12 sessions.
As per Pilita share price history, this penny stock was under selloff heat ahead of the beginning of New Year and hit its 52-week low of ₹5.90 apiece levels. However, the stock soon bounced back from its lows. On 27th December 2021, Pilita share price on NSE closed at ₹7.45 levels whereas on 12th January 2022, it closed at ₹16 on NSE, logging around 115 per cent rise in mere 12 trade sessions.
Calling it one of the multibagger penny stocks for 2022; Ravi Singhal, Vice Chairman at GCL Securities said, "Pilita shares have given sharp upside movement after giving fresh breakout at ₹10.40 per share levels. There can be some profit booking in the counter in upcoming sessions but overall sentiment of this penny stock is bullish. It may go up to ₹19 to ₹20 levels in short-term."
On Pilita shares in long term time horizon, Ravi Singhal of GCL Securities said, "On chart pattern, Pilita share price is poised for sharp upside rally and once it breaks its 52-week high on closing basis, we can expect the counter to go up to ₹35-38 apiece levels in next 6 months."
Ravi Singhal of GCL Securities said that Pilita shares are tossed as one of the multibagger stocks for 2022 as it may end this year around ₹50 levels.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
