Multibagger Stock: Sigachi Industries, a pharma sector company that entered the stock market two years ago, is poised to deliver a multibagger return this year. The stock has gained 96 percent in the year 2023 and is going to double investors’ money YTD. Shares of the company hit a new 52-week high earlier on Wednesday. During trading, the share price rose 6% to Rs. 55.90.
How were the September quarter results?
Let us tell you that Sigachi Industries has announced the September quarter results. This pharma company reported a growth of 18.50 percent in total revenue during the July to September 2023 quarter. The company’s profits grew by more than 11 percent during the period, while operating income grew by more than 20 percent year-on-year in the second quarter of the current fiscal.
When and how much compensation was paid
Over the past one month, the stock of the pharma company has risen from a level of around ₹39 to a level of ₹55.85. Shareholders have received 40 percent return during this period. In the last six months, this pharma stock has returned a multibagger 120 percent to its investors. However, in the year 2023, the stock has almost doubled the shareholders’ money by returning around 96 percent to its investors.
The IPO came in 2021: The IPO of this pharma share company was launched in November 2021 at a price of ₹161 to ₹163 per equity share. One lot of the IPO included 90 shares of the company. If an investor who was allotted an IPO had continued to hold the IPO even after the listing, he would have got the benefit of the split. In fact, the company has also done a stock split in the ratio of 1:10.
After the stock split, such an investor would have a total of 900 shares. The share price of Sigachi Industries is Rs 55.90. It means that his investment amount will be Rs 50,310. Let us tell you that ₹14,670 was required while applying for one lot of IPO.