Multibagger Stock: Up over 4100%, Waaree Tech shares turned ₹10,000 into ₹4.28 lakh in 3 years
The stock surged from ₹20.40 in January 2021 to around ₹874 currently, rallying as much as 4185 percent in 3 years.
This implies that an investment of ₹10,000 in this penny stock in January 2021 would have turned into ₹4.28 lakh this year.
Waaree Technologies stock price trend
The stock has surged 21.5 percent just in January so far, extending gains for the fifth straight month. Before this, it rose 54 percent in December 2023.
Between September 2023 and January 2024, the stock has surged 152 percent.
In 2023, the stock gave positive returns in nine months and was in the red in just 3 months (January, April, and August). It gave double-digit returns in 6 of those 9 months it was positive in.
The stock rallied the most in December, up 54 percent (as mentioned above), followed by March, up 36 percent; October, when it jumped around 33 percent, and May, up 30 percent.
Meanwhile, it shed the most in August, down 19 percent, followed by April, down 2 percent, and January, down 1 percent.
The stock also hit its record high of ₹874.15 on January 4. It has skyrocketed 525.5 percent from its 52-week low of ₹139.75, hit on January 19, 2023.
Meanwhile, in the last 1 year, it has surged 429 percent.
The rise in its stock price came on the back of a significant rise in its total income over the past few quarters.
In the September quarter, the company’s total income jumped over 80 percent to ₹13.7 crore from ₹7.6 crore in the year-ago period. Meanwhile, it reported a loss of ₹2 crore in the September quarter versus a profit of ₹15 lakh in the corresponding period last year.
About Waaree Technologies
Waaree Technologies Limited engages in the manufacture and trading of lithium batteries in India. The company offers forklift and traction solutions, telecon and energy storage systems, battery energy storage systems, and batteries for two and three wheeled electronic vehicles. Its products are used in e-bicycles, e-forklifts, e-rikshaws, battery energy systems, and telecom UPS. It also trades in e-vehicles, as well as provides artificial intelligence-based products/services.
The company was formerly known as H.K. Trade International Limited and changed its name to Waaree Technologies Limited in January 2019. Waaree Technologies Limited was founded in 1993 and is based in Mumbai, India.
While the stock showcased a stellar return, it’s crucial to highlight the inherent risks associated with penny stocks. These stocks are characterised by their high-risk nature and are not suitable for investors who adopt a risk-averse approach. It’s advisable that only high-risk investors consider investing in penny stocks, and even then, allocate only a small percentage of their portfolio to such high-risk assets. Seeking guidance from a financial advisor before making any adjustments to the portfolio is strongly recommended.
The challenges tied to penny stocks stem from their status as very small companies, often lacking substantial analyst coverage and providing limited information in the public domain. Access to insights from the management of these companies can also be challenging.
Due to these factors, unless there is a compelling and well-researched reason, investing in penny stocks is generally not recommended for serious, long-term investors. Prudent investment decisions in this domain necessitate careful consideration of the associated risks and potential volatility, underscoring the importance of professional financial advice.
Disclaimer: This story is for educational purposes only. Please speak to an investment advisor before making any investment decisions.
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Published: 04 Jan 2024, 04:53 PM IST
