The stock market is a risky endeavor. With the help of a lot of luck, investors who conduct their due diligence and consult with their financial advisors stand a chance of reaping significant rewards.
Take, for instance, the penny stock of Sel Manufacturing Company Ltd. In just 16 months, those who invested even modest sums in this penny stock saw significant gains. With little investment, many people became millionaires. The background to this multibagger stock is as follows:
In just 16 months, those who invested Rs 1 lakh in Sel Manufacturing Company limited stock received Rs 16 crore. Despite being true, this tale is surreal. This is a staggering increase of 158185 percent. On March 27, the stock price of the company was 35 paise. The share closed at its highest value, Rs 1698, in April 2022.
However, since then, those selling the stock have exerted pressure on it.
On January 9, the prices were reduced to Rs 554.10. You would have made Rs 8 crore if you had invested Rs 50,000 and sold the shares at their peak.
As a result of investors rallying to sell it, the share price has been falling. Over 40% of its prices have dropped.
The business has ceased operations and is currently in debt.
Warning: Invest in any stock after conducting thorough research and consulting with experts.
