Multibagger Stock: Intellivate Capital Ventures turned ₹10,000 into over ₹1 lakh in 2023
Penny stock Intellivate Capital Ventures has proved to be resilient in 2023 and gave massive returns. The stock surged from ₹11.63 to around ₹122.11 currently, rallying as much as 950 percent year-to-date (YTD).
Shares of financial firm Intellivate Capital Ventures have given exceptional returns to their investors in 2023 following the overall positive market sentiment.
Despite facing multiple challenges such as the Russia-Ukraine war, the Israel-Hamas war, peak global inflation, rising crude prices, peak US 10-year yield, and a consumption slowdown, the Indian market achieved a record-high streak. This remarkable performance can be attributed to sustained foreign and domestic investor inflows, improving macroeconomic indicators, and the potential for the incumbent government's return to power, all of which, contributed to keeping the markets resilient during the period.
Penny stock Intellivate Capital Ventures proved to be resilient and gave massive returns.
The stock surged from ₹11.63 to around ₹122.11 currently, rallying as much as 950 percent year-to-date (YTD).
This implies that an investment of ₹10,000 in this penny stock in December last year would have turned into ₹1.05 lakh this year.
Read here: Up 980% in 2023 so far, this stock turns ₹10,000 into ₹1.08 lakh in less than a year
Of the 12 months of 2023 (considering December so far), the stock gave positive returns in ten, was flat in one (April), and was in the red in just 1 month (November 2023). It gave double-digit returns in 5 of those 10 months it was positive in.
The stock rallied the most in July, surging almost 83 percent, followed by August and June, when it jumped around 55 percent each.
The stock started the year on a positive note and was in the green in the first 3 months of the year, up 5 percent in each January, February, and March. Then, after a flat April, the stock gave positive returns for 6 straight months until declining in November (down 9 percent).
Between May and October, it soared 634 percent. It has also gained over 35 percent in December till date.
Read here: Stock market last week: These 5 penny stocks gave up to 60% return
The stock also hit its record high of ₹122.11 on December 27. It has skyrocketed 950 percent from its 52-week low of ₹11.63, hit on January 2, 2023.
Meanwhile, in the last 1 year, it has surged 900 percent.
The rise in its stock price came on the back of a significant rise in its profit over the past few quarters.
In the September quarter, the company's net profit jumped to ₹9 lakh from ₹1 lakh in the year-ago period. Meanwhile, its revenue fell to ₹13 lakh in the September quarter from ₹20 lakh in the corresponding period last year.
Its total income also surged to ₹98 lakh in the September quarter from ₹23 lakh in the year-ago period.
Read here: Suzlon, Reliance Power to VI: These 5 penny stocks beat Nifty 50 return in 2023
Intellivate Capital Ventures Limited provides financial advisory, consultancy, and investment services in India. It provides integrated solutions to its clients, such as merchant banking that includes corporate finance, working capital finance, project finance, and financial restructuring to corporate.
The company also offers funding solutions to clients in the form of debt, equity, and investment activities. It serves companies in various sectors, including information technology, media and entertainment, financial services, infrastructure, construction services, real estate, logistics, etc.
The company was formerly known as KB Steel Limited and changed its name to Intellivate Capital Ventures Limited in December 2008. Intellivate Capital Ventures Limited was incorporated in 1982 and is based in Gurugram, India.
While the stock showcased a stellar return, it's crucial to highlight the inherent risks associated with penny stocks. These stocks are characterised by their high-risk nature and are not suitable for investors who adopt a risk-averse approach. It's advisable that only high-risk investors consider investing in penny stocks, and even then, allocate only a small percentage of their portfolio to such high-risk assets. Seeking guidance from a financial advisor before making any adjustments to the portfolio is strongly recommended.
Read here: Wealth Destroyers of 2023: These 7 stocks eroded 80-95% investor wealth this year
The challenges tied to penny stocks stem from their status as very small companies, often lacking substantial analyst coverage and providing limited information in the public domain. Access to insights from the management of these companies can also be challenging.
Due to these factors, unless there is a compelling and well-researched reason, investing in penny stocks is generally not recommended for serious, long-term investors. Prudent investment decisions in this domain necessitate careful consideration of the associated risks and potential volatility, underscoring the importance of professional financial advice.
Disclaimer: This story is for educational purposes only. Please speak to an investment advisor before making any investment decisions.
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