Multibagger Stocks 2021: Despite the Corona crisis, the stock market has soared. Many smallcap stocks have given bumper returns during this period. The stock of one such micro cap company has done a great job. The stock of Proseed India has given returns of more than 11,000 percent in a year. In such a situation, if a person would have invested 1 lakh rupees in the shares of this company a year ago, then in just 12 months his money increased to more than 1 crore rupees.
This 32 paise share made investors millionaires
The share price of Microcap Stock Proceed India was only 32 paise on 20 August 2020, which increased to Rs 35.90 on BSE on 20 August 2021. In this way, the company’s stock has given a return of 11,118 percent in one year. During this, Sensex has gained 44.98 percent.
Shares rose 175 percent in 21 sessions
The performance of Proseed India’s stock has been excellent. The company’s stock rose 175.1 percent in the last 21 trading sessions. The market cap of the company is Rs 370.11 crore.
The company is making losses, major factor investors should consider before trading in their shares. The firm has not made any sales in the last 10 quarters. Last time it recorded sales of Rs 54 lakh in the quarter ended December 2018.
Company facing insolvency process
The company’s loss increased to Rs 30 lakh for the quarter ended June 2021 from Rs 9 lakh in the same quarter last year. On a quarterly basis, the company’s net profit fell 102.32 percent from a profit of Rs 12.94 crore. Investors should also note that Proseed India is currently facing the first stage of the Insolvency Resolution Process (IRP).
Promoters have zero percent stake in the firm with public shareholders holding 100 percent. The company has incurred losses in the 8 financial years preceding the financial year of March 2021. The company earned a profit of Rs 12.67 crore in the financial year ended March 2021.
The company provides web development, web maintenance, and support services to its step-down subsidiary, Globe 7 Pte Limited. The company focuses on two sectors – Online Advertising and Securities & Derivatives Trading.