Investment market investing can be a dangerous business, but if you pick the correct stock, the benefits can be significant. Shares of Poly Medicure are one such stock that has provided investors with outstanding returns over time and has been referred to as a multibagger stock.
The company’s shares dropped 3.45% today from their 2.29 percent rise on Tuesday, when they closed at Rs 890. In spite of this, the stock has produced fantastic returns since 2009, returning more than 31573 percent from its initial share price of Rs 2.81. In the past, an investor might have purchased this stock for Rs 32,000; today, it is worth almost Rs 1 crore.
Shares of Poly Medicure have also shown potential in the near future, with its stock price once reaching Rs 1,044.40. Despite some recent selling pressure, brokerage firm ICICI Securities believes the company has the ability to generate significant returns in the future. The company’s financial performance has been good, with a quarter-over-quarter growth in revenue of 23.7% to Rs 280 crore and a year-over-year increase in profit of 50% to over 50 crores.
Shares of Poly Medicure may be a good option to think about if you’re trying to invest in the stock market. Before making any investing decisions, it is usually advisable to get the advice of a financial advisor and do extensive research.