Shares below Rs 100: Only buyers in this multibagger smallcap stock despite market weakness!
In just one month, shares more than doubled investors' wealth, soaring over 100 per cent!
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The Indian headline indices closed sharply lower on Friday, heavily dragged down by losses in the power, utilities and oil & gas sectors. The BSE Sensex tumbled 1.45 per cent to 59,330 level at the close. The Nifty 50 index plunged 1.61 per cent to a level of 17,604.
Despite market weakness, healthcare stocks held strong, with the BSE Healthcare index ending the session half a per cent higher, led by a 10 per cent gain in Unichem Laboratories Ltd. Even in a falling market, Eiko Lifesciences Ltd, a multibagger Small-Cap stock, drew investors with its back-to-back upper circuits.
On an intraday basis on Friday, shares of Eiko Lifesciences Ltd surged and locked at a 5 per cent upper circuit at Rs 96.20 per share on the BSE, setting a new 52-week high. In just one month, shares more than doubled investors' wealth, soaring more than 100 per cent!
Taking into account the company's financial performance, it reported a significant boost from a loss of Rs 0.06 crore to a profit of Rs 0.26 crore in Q3FY23. Recently, the company announced that a meeting of the company's board of directors will be held on January 31, 2023, to consider the proposal for raising funds.
Eiko Lifesciences Ltd is a global manufacturer, supplier and exporter of speciality chemicals and pharma intermediates.
Keep a close eye on this scrip for the upcoming sessions!