Multibagger Stock: Prices of This Realty Firm Surged by 700% in 1 Year
There are several listed companies in the Indian stock market offering good returns to their investors. Multibagger stock of realty firm Arihant Superstructures has given more than 700% return to its customers in the last year. Market experts are also suggesting adding this multi-bagger stock to your portfolio for great returns. The stocks that provide returns several times their costs are known as multi-bagger stocks.
The price of one stock of realty firm Arihant Superstructures was around Rs 20 in October 2020 and it is rallying around Rs 161 now. This means that this multi-bagger stock has given as much as 704 percent returns to its investors in just one year.
To understand how much you could have earned if you had invested in this stock one year ago, here is an example. If you had invested Rs 1,00,000 a year ago in this realty firm, you would have got over Rs 8,00,000 currently.
Arihant Superstructures is a smallcap real estate firm founded in 1983. It is headquartered in Mumbai. The firm mainly focuses on affordable housing. According to a Mint report, Arihant Superstructures has completed the construction of over 10,000 houses and presently has 12,000 houses under construction.
The company with a market cap of Rs 678 crore had hit its 52-week high of Rs 189.10 on October 19, 2021. The company had hit its 52-week low of Rs 19.4 on October 23, 2020. Hence, on a Year to date (YTD) basis, the stock has added over 400 percent. The firm also saw a 180 percent rise in its net profit at Rs 11.63 crore in the quarter ended September 2021.
As the economy is opening up, the demand in the real estate sector is reviving. Lower home loan rates have also led to an increase in property registrations. Market experts are also believing that this multi-bagger stock can provide good returns to all those who invest in this company.