₹3 to ₹592: Multibagger penny stock turns ₹1 lakh to ₹2 crore in 6 years
Premium- Multibagger penny stock: If an investor had invested ₹1 lakh in this multibagger stock one year ago, it would have turned to ₹8.70 lakh today
Multibagger stock: Investing in stocks is like investing in business. According to ace investors, while venture capitalists and various other investors invest in small and medium sized companies once they are convinced about the business model and its sustained business potential, one should also do the same while investing in stocks. Once you invest in a stock, you should try to hold the counter as long as you can. This helps an investor get compounding benefit and accumulate whopping amount is small time span. GRM Overseas shares are glaring example of it. This rice milling company stock has surged from ₹3 apiece levels to ₹591.90 levels in lats 5 years, appreciating around 200 times in this period.
GRM Overseas share price history
In last one month, this multibagger stock has been under selloff heat, which is obvious as entire secondary has been under selloff heat due to negative sentiments cause by geopolitical tension. In last one month, this multibagger stock has shed 17 per cent due to weakness in global equity markets triggered by geopolitical tension. But, in last 6 months, this multibagger shares' price has surged from near ₹196 to ₹191.90 levels, logging around 200 per cent rise in period. In last one year, penny stock has risen from around ₹68 to ₹591.90 apiece levels, appreciating to the tune of around 770 per cent in this time. Similarly, in last 6 years, this multibagger penny stock has shot up from ₹3 (close price on BSE on 11th March 2016) to ₹591.90 (close price on BSE on 4th March 2022), ascending around 19,900 per cent in this period.
₹1 lakh turns to ₹1 crore
Taking cue from GRM Overseas share price history, if an investor had invested ₹1 lakh in this multibagger stock one month ago, its ₹1 lakh would have turned to ₹83,000 today whereas it would turned to ₹3 lakh in 6 months. If an investor had invested ₹1 lakh in this multibagger stock one year ago, it would have turned to ₹8.70 lakh today. Similarly, if an investor had invested ₹1 lakh in this penny stock 6 years ago and had remained invested in the scrip throughout this period, it would have turned to ₹2 crore today.
GRM Overseas share price outlook
Speaking on GRM Overseas share price chart pattern; Anuj Gupta, Vice President at IIFL Securities said, "GRM Overseas shares are currently trading below 200 day moving average. It has been trading in negative to sideways trend after ascending to its life-time high of ₹935.40 apiece levels in January 2022. Those who have this stock in their portfolio are advised to hold the stock whereas those who want to take fresh position are advised to wait for some time. One should buy this stock in ₹500 to ₹510 range maintaining stop loss at ₹454 apiece levels."
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Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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