by IANS |
New Delhi, Dec 19 (IANS) Shares of Equippp Social Impact skyrocketed in the past seven months, rising a whopping 7,900 per cent during the period.
Before February 2021, the company was known as Proseed India, and dealt in seed business.
In its earlier avatar, the company failed to generate much revenue and reportedly went into insolvency.
Post re-listing as Equippp Social Impact on May 19, 2021, the company has never looked back. Its share price rose from Rs 1.45 on May 20, 2021, to Rs 116 at Friday's closing.
The rechristened company is a collaborative platform that vitalises crowd participation in public-private projects and connects corporates, citizens, domain Experts, NGOs and philanthropists with the government to initiate and participate together in socially relevant projects.
The company's current market capitalisation is Rs 1,195 crore, NSE data showed.
Stock prices ranging in single digit or low two-digits are known as penny stocks, and they typically have high volatility associated with them. On the other hand, multibagger stocks are those whose share prices rise exponentially over a short period of time.
Raghuvir Synthetics, Radhe Developers India, Jindal Poly Investment, Tata Teleservices are some of the other penny stocks which went on to become multibaggers in 2021.
Stocks of these companies rose 3,653 per cent, 3,080 per cent, 1,518 per cent, and 2,308 per cent, respectively.