The impact of COVID-19 has not only been on the lifestyle of the people but it has also affected the stock markets. Over the past three months, many penny stocks have become multibaggers, generating huge returns for investors. Talking about the statistics, in 18 months, more than 800 penny stocks have become multibaggers.
The good times for penny stocks continued into 2022, with a massive 700% return in just less than three months. Stocks that had a smaller value a few months ago have seen higher returns than those that were on the rise.
One such stock is Tyne Agro Limited, which is listed on the Bombay Stock Exchange (BSE). This stock has converted an investment of just Rs 10,000 into Rs 1.43 lakh in just 3 months.
How Rs 10,000 to Rs 1.43 Lakh in Just 3 Months
The share price of Tyne Agro Ltd. at the close of market on March 8, 2022 was Rs 58.85. Just three months ago, on December 8, 2021, the stock closed at Rs 4.10. This means a tremendous growth of about 1335.366% has been seen within just 90 days. At this rate, an investment of Rs 10,000 at a lower price today will be Rs 1,43,536.585.
What is the increase in one year?
Within this year itself, the stock has increased from Rs 6.80 on December 31 to Rs 58.85 on March 8. This means that in 2022 there was already a massive increase of 765.41%. The stock which has more than doubled in the last month. Back on February 8, it was trading at Rs 23.75.
what does this company do
Tyne Agro Limited is one such company, which manufactures Textile, Woolen and Furniture products with pan India reach. The company was established in 1994 and trades on BSE and NSE.