The shares of SEL started declining in the month of May this year.
Before that, the stock was constantly feeling upper circuit.
Despite the fall, the stock has risen 1600 per cent so far this year.
New Delhi. Small cap penny stocks are always considered risky in the stock market. These shares can convert your investment of a few thousand rupees into crores, then you can completely clean the investment of crores. Therefore, experts advise to invest money in these stocks carefully. Today we will talk about one such stock which at one time made investors millionaires and now trading in it was stopped due to the fall.
We are talking about the shares of SEL Manufacturing Limited. Investors who put money in it for 6 months have seen stars in the day. This stock has fallen more than half during this period. If a person had invested Rs 1 lakh in this stock for 6 months, then today that amount would have come down to Rs 57 thousand.
Also read- Changed law for food grains at ration shops, beneficiaries will now have to apply thumb twice
Where did the share come from?
This stock was trading 6 months ago i.e. on 22 February 2022 at Rs 1237. Now its price has come down to Rs 699. In the last 6 months, this stock has fallen about 43 percent. However, despite this decline, it has given a return of 1602 per cent since the beginning of the year. In the last one year, this stock has increased by more than 14500 percent. At the beginning of October last year, the share price was only Rs 5. Before the downtrend started, SEL shares had only upper circuit exposure for a long time.
Where did the downtrend begin?
This stock was going up continuously till 9th May this year. After that it started declining. On May 9, the stock was at Rs 1235 and in the very next month i.e. by June 13, it reached Rs 906. By August 11, this stock reached Rs 619. However, once again there was buying in it and by 22nd of the same month, this share went to Rs 829. After that, the trend of decline and uptrend started again. The last trading in this stock took place on 14 October on BSE.
Also read- Sharp rise in petrol and diesel prices in Maharashtra, Rajasthan, fuel prices changed in many cities
The company was continuously in loss
In the June quarter of the last financial year, the company had a revenue of Rs 80 crore and its loss was Rs 42 crore. At the same time, in the June quarter of this financial year, the company’s revenue stood at Rs 118 crore and the loss has increased to Rs 51 crore. Meanwhile, the company has incurred losses in every quarter.
What does the company do?
SEL Manufacturing is a textile company. Apart from manufacturing fabric, this company also manufactures readymade garments and different types of towels. Its current market cap is Rs 2438 crore and it is the only stock listed on BSE.
Tags: business news in hindi, Multibagger stock, Share market, stock market, Stocks
FIRST PUBLISHED : October 22, 2022, 09:04 IST