Active Stocks
Fri Jun 14 2024 15:58:47
  1. HDFC Bank share price
  2. 1,597.45 1.05%
  1. State Bank Of India share price
  2. 840.20 -0.44%
  1. Tata Steel share price
  2. 183.05 0.30%
  1. ICICI Bank share price
  2. 1,105.10 -0.20%
  1. Kotak Mahindra Bank share price
  2. 1,717.00 -0.54%
Business News/ Markets / Stock Markets/  Multibagger SME stock Suratwwala Business share price soars over 8000% in 4 years; is it wise to accumulate?
BackBack

Multibagger SME stock Suratwwala Business share price soars over 8000% in 4 years; is it wise to accumulate?

Multibagger Stock: Suratwwala Business share price has skyrocketed from its listing price of ₹16.2 per share to the current trading price of ₹124.3 per share. Trendlyne data shows that over the past year, the stock price increased by 451.56% and outpaced its sector by 320.74%.

Multibagger SME stock: On Tuesday's session, Suratwwala Business Group share price opened at ₹126.20 apiece on BSE, the stock touched an intraday low of ₹123.20 apiece and an intraday high of ₹127.95. (Pixabay)Premium
Multibagger SME stock: On Tuesday's session, Suratwwala Business Group share price opened at 126.20 apiece on BSE, the stock touched an intraday low of 123.20 apiece and an intraday high of 127.95. (Pixabay)

Multibagger Stock: Since its debut in August 2020, Suratwwala Business Group shares have rewarded investors with spectacular returns of over 8,000% so far within a nearly 4-year period. Suratwwala Business share price has skyrocketed from its listing price of 16.2 per share to the current trading price of 124.3 per share. On Tuesday's session, Suratwwala Business Group share price opened at 126.20 apiece on BSE, the stock touched an intraday low of 123.20 apiece and an intraday high of 127.95.

According to Dr. Ravi Singh, SVP - Retail Research, Religare Broking Ltd, Suratwwala Business Group develops and maintains projects involving both residential and commercial real estate in Pune. Technically, the stock is in an uptrend; we may see some profit taking until 118–120 levels. One can accumulate at these levels with a potential upside of 140.

Also Read: 1:10 stock split: Multibagger SME IPO Suratwwala Business turns 1.20 lakh into 1 crore in four years

Trendlyne data shows that over the past year, the stock price increased by 451.56% and outpaced its sector by 320.74%.

The company's consolidated revenue from operations jumped by 97% year over year in the fourth quarter of FY24, demonstrating the effectiveness of its strategic objectives and excellent market position. In comparison to a loss of 1.02 crore in Q4FY23, the company's profit after taxes for the quarter that ended in March was 5.59 crore.

For the full fiscal year 2024, the company consolidated revenue from operations rose by nearly 16% on year, and the profit after taxes for FY24, surged over 31% year-on-year.

Also Read: DOMS Industries share price rises 10% to all-time high: up 150% over the IPO price giving

Recently, in order to comply with the relevant regulations, the Suratwwala Business board approved a borrowing power ceiling of up to 250 crores, subject to members' approval.

The company in its exchange filing stated that the shareholders of the company through postal ballot approved the sub-division of each equity share of the Company of face value of 10 each fully paid up into 10 equity shares of face value of 1 each fully paid up on March 21, 2024. The record date for the said sub-division was fixed as April 18, 2024. Pursuant to split of shares the equity shares of the Company is increased from 1,73,41,644 equity shares to 17,34,16,440 equity shares of face value 1.

Also Read: 15 to 375: Ashish Kacholia-owned multibagger chemical stock Fineotex Chemical rises 2400% in four years

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

3.6 Crore Indians visited in a single day choosing us as India's undisputed platform for General Election Results. Explore the latest updates here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 28 May 2024, 03:07 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started