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Rs 2.8 to Rs 228: Despite zero sales, this stock has turned into a multibagger in one year

The micro cap stock stood at Rs 2.80 an year ago and closed at Rs 228.20 on November 14, translating into gains of 8,050% during the period

Aseem Thapliyal | November 16, 2020 | Updated 13:25 IST
Rs 2.8 to Rs 228: Despite zero sales, this stock has turned into multibagger in one year
Transglobe Foods share closed 2% lower at Rs 228.20 on Muhurat trading day. The stock has lost 23% in the last 13 days

Share price of Transglobe Foods has delivered strong returns to investors in last one year. Transglobe Foods share price stood at Rs 2.80 an year ago and closed at Rs 228.20 on November 14, translating into gains of 8,050% during the period.  In comparison, Sensex gained 8.78% during the period. An investment of Rs 1 lakh a year ago would have grown to Rs 81.50 lakh today.

However, the stock has been seeing some profit booking recently.

The micro cap stock closed 2% lower at Rs 228.20 on Muhurat trading day. Market cap of the firm fell to Rs 3.31 crore on BSE. The stock has lost 23% in the last 13 days. The share trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.

The stock has lost 4.34% in one month and 11.34% in a week. During the same period, Sensex gained 7.42% and 4.34%, respectively.

Interestingly, the food processing company has recorded zero sales since fiscal ended March 2017.

Rakesh Jhunjhunwala earned Rs 2.71 crore per day with this stock for 100 sessions

The firm reported Rs 0.18 crore net profit for the fiscal ended March 2020 against loss of Rs 0.19 crore for March 2019 fiscal. For fiscal ended March 2018, the firm reported net loss of Rs 0.25 crore.

For fiscal ended March this year, earnings per share rose to Rs 4.29 against minus Rs 0.60 in March 2019 fiscal and minus Rs 0.78 in March 2018 fiscal.

For quarter ended September, the firm logged a loss of Rs 0.05 crore against Rs 0.04 crore loss in Q2 of last fiscal.

The firm logged profit of Rs 0.01 crore, 0.09 crore and 0.08 crore in December quarter, March quarter of last fiscal and June quarter of this fiscal.

The company is not listed on NSE. The firm is a food processing company and engaged in manufacturer exporters of canned vegetables, fruit concentrate and other products. The company, which is based in Baroda, Gujarat, was founded in the year 1986.

Jhunjhunwala earned Rs 5.6 crore per day with this stock for 111 sessions

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