2 Multibagger Penny Stocks Locked In Upper Circuit To Watch Next Week
Despite a poor market, most small-cap and penny stocks have reached their upper circuit, which is the maximum intraday price at which a stock can touch, and hence there are no sellers and only buyers. Meanwhile, shares of Impex Ferro Tech Ltd and Zenith Steel Pipes & Industries have recently locked in their upper circuit and have earned multibagger gains in the last year.
Impex Ferro Tech
On Friday, Impex Ferro Tech’s stock touched the upper circuit for the ninth time in a row. On 27/05/2022, the stock reached its 52-week high with a final traded price of ₹10.54. The BSE-listed multibagger stock has been touching higher circuit since May 19, 2022, despite a weak market. In the previous year, the stock has climbed from ₹0.72 as of June 1, 2021 to the current market price, resulting in a massive multibagger return of 1,363.89 per cent. Year-to-date (YTD), the stock has risen from ₹1.35 on January 3, 2022 to ₹10.54, resulting in a multibagger return of 680.74 per cent in 2022 so far. This multibagger stock has gained by nearly 200 per cent in the previous six months, rising from around ₹110 to ₹329.45. Impex Ferro Tech’s share price has increased by over 63 per cent in the previous month, rising from ₹6.45 to ₹10.54. The stock hit a 52-week low of ₹0.72 on June 1, 2021, and the company’s market valuation is ₹92.68 crore. Its most recent trade volume was about ₹11,647, with a 20-day average trade volume of ₹48,259. Impex Ferro Tech’s stock currently has a PE multiple of 17.75. The book value per share is -25.95, with a PB of -0.40 and an ROE of -2.23. Impex Ferro Tech is trading higher than the 5 days, 20 day, 50 days, 100 day, and 200-day moving averages outperforming the sector by almost 4%.
Raj Rayon Industries
Raj Rayon Industries Limited’s stock reached an upper circuit and a 52-week high of ₹13.86 on May 27, 2022, and a 52-week low of ₹0.21 on September 22, 2021. The company is valued at ₹2 crore on the market. Its most recent transaction volume was at ₹107, compared to a 20-day average of ₹407. In the previous year, the stock price has risen from ₹0.23 on May 31, 2021 to ₹13.86 on May 27, 2022, at3:30 pm, for a total return of 5,926.09%. On a year-to-date (YTD) basis, the stock has risen from ₹1.35 on March 16, 2022 to ₹13.86, resulting in a multibagger return of 926.67 per cent. The stock has also delivered a multibagger return of 926.67 per cent in the previous six months, while in the last month, the stock has moved from ₹6.34 to ₹13.86, registering a multi-bagger return of about 118.61 per cent between May 2nd and May 27th. The stock has been rising over the past 21 days, gaining 152.46 per cent in that time, and has increased 11.33 per cent in the previous five trading days. The stock outperformed the sector by over 0.28 per cent after hitting an all-time high on Friday. Raj Rayon Ind. is trading above its five-day, twenty-day, fifty-day, one-hundred-day, and two-hundred-day moving averages.