It is said that stock market is a risky business, but the number of people investing in it is increasing rapidly. There are many shares in the market which have made their investors rich. Some have become multibagger in the long term and some within a year. These also include the shares of real estate sector company Signature Global India Limited, which was listed in September last year and in less than a year, it has tripled the investors’ money.
1 lakh converted into 3 lakh in 11 months
The shares of real estate sector giant Signature Global India Limited have become a multibagger running at the speed of rocket after its stock market debut. Within just 11 months, the company’s stock has given a whopping return of 223.85 percent to its investors. According to this, the investors who had invested Rs 1 lakh in the company’s shares and had held it till now, their amount would have now increased to more than Rs 3 lakh.
Share price crossed 1400
Signature India Global launched its IPO in September 2023 and received an overwhelming response from investors. The IPO price band was fixed by the company at Rs 366-385 per share. The company’s shares were listed on BSE and NSE on 27 September 2023. These stocks were listed at a premium of more than 15 percent. This real estate share gained tremendous momentum since its stock market debut. Signature Global Share was at Rs 458.55 on its listing day, which became Rs 1485 on Wednesday, August 14, 2024.
MCap reached here due to rise in shares
There has been tremendous growth in the stock market in the last one year and meanwhile, the stock of real estate firm Signator Global India has also risen at the speed of rocket. The effect of the rise in the stock has also been visible on the market capitalization of the company and it had increased to Rs 20870 crore by the last trading day on Wednesday. The 52 week high level of the company’s shares is Rs 1575, while the low level is Rs 444.
There was strong profit in the first quarter
Recently the company had announced its first quarter results. Signature Global India consolidated net profit in the April-June quarter was Rs 6.76 crore. Apart from this, the company’s income also increased to Rs 427.98 crore. Considering the strong returns investors are getting, brokerages are also bullish about it. According to a report last month, ICICI Securities has expected it to cross Rs 1700. Some brokerages are also expecting its price to touch Rs 2000.
(Note- Before making any investment in the stock market, definitely take advice from your market experts.)