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Multibagger stock: Metal scrip gives 145% return in 2022. Do you own?

Multibagger stock: In last one week, Sacheta Metals shares have hit 5 per cent upper circuit on all 5 trade sessions, yielding around 21.50 per cent return to its shareholders in this period. (HT)Premium
Multibagger stock: In last one week, Sacheta Metals shares have hit 5 per cent upper circuit on all 5 trade sessions, yielding around 21.50 per cent return to its shareholders in this period. (HT)

  • Multibagger stock: Tagged as a penny stock, Sacheta Metals share price surged from 19.55 to 47.55 apiece levels, yielding around 145 per cent return to its shareholders in 2022

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Multibagger stock: While stock market analysts are busy recommending multibagger stocks for 2022, some stocks have already entered the list of multibagger penny stocks for 2022 in India. Sacheta Metals shares are one of them. Tagged as a penny stock, Sacheta Metals share price surged from 19.55 to 47.55 apiece levels, yielding around 145 per cent return to its shareholders in 2022.

Sacheta Metals share price history

Sacheta Metals shares had closed at 19.55 apiece levels on BSE on 31st December 2021 whereas it ended at 47.55 per share levels on 14th January 2022 on BSE. So, in 2022, this multibagger penny stock has skyrocketed around 145 per cent. In last one week, Sacheta Metals shares have hit 5 per cent upper circuit on all 5 trade sessions, yielding around 21.50 per cent return to its shareholders in this period. In last one month, this multibagger penny stock has moved northward from 16.95 to 47.55, appreciating to the tune of 180 per cent in this period.

Sacheta Metals share price history suggests that the penny scrip has been in uptrend for the last one month. Otherwise, it has remained sideways for long. In fact, Indian exchanges also sought clarification from the company in regard to the sudden appreciation in its stock price. However, the company made it clear that the sudden jump in Sacheta Metals share is completely 'market driven.'

Replying to the query BSE, Sacheta Metals management said, "We wish to inform you that the Company has made all the necessary disclosures pursuant to regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and has not withheld any material information/event that in our opinion would have bearing on the price behavior of the shares of the Company. It is practice of the Company to inform the Stock Exchange about all material price sensitive information on its occurrence, as and when such information is available or such event takes place."

On sudden jump in Sacheta Metals share price, company replied, "The movement in the share price of the Company is purely due to market conditions and absolutely market driven and the management of the company is in no way connected with any such movement in price."

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