Stock exchange is a risky proposition. Those who invest after due diligence and talking to their financial advisors, might benefit massively with help from a lot of luck.
Take Sel Manufacturing Company Ltd’s penny stock for instance. Those who invested even paltry sums in this penny stock, gained massively in a span of just 16 months. Many became millionaires with minimum investment. Here’s the story of this multibagger stock.
Those who invested Rs one lakh in Sel Manufacturing Company limited stock earned Rs 16 crore in just 16 months. This story is surreal but true. This is a whopping 158185 percent gain. The company’s stock was priced at 35 paise on March 27. In April 2022, the share closed at its highest value – Rs 1698.
However, since then, the stock has been under the pressure of those selling it.
The prices have dropped to Rs 554.10 on January 9. If you had invested Rs 50000 and sold the shares when it was its peak, you would have earned Rs 8 crore.
The share price has been dropping because investors are rallying to sell it. Its prices have dropped by over 40 percent.
The company is now under debt and has stopped trading.
Warning: Invest in any stock after proper vetting and discussion with experts.