Multibagger penny stock: Kridhan Infra soars 633% since March 2020, hits 52-week high | Stock Market News
Source: Live Mint
Multibagger penny stock: Kridhan Infra has emerged as a standout multibagger penny stock, delivering stellar returns to investors.
The stock has witnessed a dramatic rise, surging an extraordinary 633 per cent since March 2020. From a modest price of ₹1.19 in March 2020, the stock has climbed to ₹8.72, its 52-week high. This performance highlights the company’s resilience and ability to generate substantial returns over time.
In the short term as well, Kridhan Infra has continued its robust growth. Over the past year, the stock has soared 232 per cent, while in 2024 alone, it has appreciated by a staggering 153 per cent. After four months of consecutive losses since August 2024, the stock rebounded strongly in December, advancing 99.5 per cent so far. However, it declined by 4.5 per cent in November, 2.5 per cent in October, 5 per cent in September, and 9 per cent in August.
During intraday trade today, December 12, 2024, the stock reached its 52-week high of ₹8.72. From its 52-week low of ₹2.55 in December 2023, the multibagger stock has achieved an impressive 242 per cent growth.
However, after opening at its 52-week high today, Kridhan Infra hit its 5 per cent lower circuit at ₹7.90, breaking a streak of nine consecutive positive sessions. Earlier, the stock had hit its 10 per cent upper circuit in the last two sessions and its 20 per cent upper circuit in two sessions before that.
Kridhan Infra Q2 FY24 Results
Despite its remarkable stock performance, Kridhan Infra’s financials presented challenges in Q2 FY24. The company reported a net loss of ₹25 lakh for the September 2024 quarter, compared to a net profit of ₹3.4 crore during the same period in the previous year. Total income also dropped to ₹13 lakh in Q2 FY24 from ₹19 lakh in Q2 FY23.
About Kridhan Infra
Kridhan Infra Limited, based in Mumbai, manufactures and sells steel products domestically and internationally. The company offers bridge expansion joints, rebar mechanical couplers, and trades in iron, steel, and allied materials. It also provides specialised services, including bored piling, driven piling, micro piling, soil improvement, and soil investigation. Formerly known as Readymade Steel India Limited, the company adopted its current name in June 2014.
Penny stocks like Kridhan Infra attract investors looking for substantial returns on smaller investments. However, they carry significant risks due to their high volatility and market unpredictability. Investors are advised to conduct thorough research, assess financial performance, and evaluate market positioning before making investment decisions.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
