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Business News/ Markets / Stock Markets39 to 294: Multibagger IT stock rises 600% in 3 months. Do you own?
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₹39 to ₹294: Multibagger IT stock rises 600% in 3 months. Do you own?

Multibagger stocks: If an investor had invested ₹1 lakh in this stock one month ago, its ₹1 lakh would have turned to ₹2.90 lakh today

Multibagger stock: If an investor had invested ₹1 lakh in this stock 3 months ago, its ₹1 lakh would have turned to ₹7 lakh today. (HT)Premium
Multibagger stock: If an investor had invested 1 lakh in this stock 3 months ago, its 1 lakh would have turned to 7 lakh today. (HT)

Multibagger stock: After more than a month in 2022, a good number of small-cap stocks have delivered multibagger return to its shareholders. This list of multibagger stocks in 2022 includes Magellanic Cloud shares. This IT stock has surged from 38.90 (close price on BSE on 12th November 2021) to 294.70 apiece levels today, logging around 600 per cent rise in just 3 months time. From second quarter of December 2021, this small-cap IT stock has been in uptrend as it has ascended from around 47 to 294.70 levels in this period.

Magellanic Cloud share price history

In last one week, this multibagger stock has shot up 21.50 per cent hitting 5 per cent upper circuit on all 5 trade sessions. In last one month, it shot surged from 101 to 294.70, appreciating around 190 per cent whereas in year-to-date (YTD) time, it shot up from around 75 to 294.70 levels, rising around 290 per cent in year 2022. The stock has risen from 38.90 levels (close price on BSE on 12th November 2021) to 294.70 levels in last 3 months, logging around 600 per cent in this period.

Impact on investment

Taking cue from share price history of this multibagger stock, if an investor had invested in this stock, one week ago, its 1 lakh would have turned to more than 1.21 lakh today. If an investor had invested 1 lakh in this stock one month ago, its 1 lakh would have turned to 2.90 lakh today whereas it would have turned to 3.90 lakh in YTD time. If an investor had invested 1 lakh in this stock 3 months ago buying one stock at 38.90 apiece levels, its 1 lakh would have turned to 7 lakh today.

More about Magellanic Cloud shares

This multibagger stock is a small-cap IT stock with current market capitalization of 741 crore. Currently, it is trading at its life-time high whereas its 52-week low is 37.25 per share. P/E ratio of the IT stock is slightly above 22 while its dividend yield is 0.17 per cent. Its trade volume is 41,293 which is much higher than its 20 days average volume of 17,493. Book value per share of this multibagger stock is 21.24.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 11 Feb 2022, 03:02 PM IST
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