1 min read.Updated: 01 Oct 2021, 02:14 PM IST Edited By Asit Manohar
Multibagger stock: After relisting at ₹386 per share levels, Meghmani Finechem share price has surged up to ₹856 per stock levels today
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Multibagger stock: Amid buzz in chemical segment, newly listed Meghmani Finechem shares have given around 120 per cent return to its shareholders in around 45 days of its relisting as a separate entity on August 18, 2021. The chemical stock was relisted on NSE on 18th August 2021 at ₹386 apiece. So, after relisting at ₹386 per share levels, Meghmani Finechem share price has surged up to ₹856 per stock levels today — yielding multibagger return to its investors in around 45 days of its listing.
The stock price of Meghmani Finechem Limited, a leading manufacturer of Chlor-alkali products and its value-added derivatives on Friday hit its all-time high of ₹856 after hitting upper circuit. On Thursday as well, the stock price had surged 9.69 per cent.
Elevated price of caustic soda is one of the key reasons behind recent rally in this chemical stock. It is expected to help company’s revenue. China power shortage and the hurricane IDA strike in the US have resulted in strained supply chain for caustic soda.
The stock made strong debut at Indian bourses after opening at ₹386, a premium of near 200 per cent to the closing price of the parent entity ( ₹138.25) Meghmani Organics Ltd. Meghmani Finechem Ltd was listed as a separate entity with the aim of maximising value for the shareholders. The investors seem to be agreeing to the management decision and as of October 1, just MFL traded at 625 per cent of the closing price of parent company Meghmani Organics Ltd.
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