This Rs 3 share went up to 40, the 1948 state-owned company is not stopping.
4 years ago Share started its journey at Rs.3. Now it has reached above Rs 40. IFCI stock will soon cross the 50 mark.
New Delhi. People who invest in the stock market are always looking for stocks that can give them big returns. One such penny stock was state-owned IMCI (IFCI), which has become a multi-bagger in just 4 years post-pandemic. The share of this company started at Rs 3 four years ago and has gone above Rs 40. This momentum shows no signs of stopping in the future. Experts predict that IFCI’s stock will soon cross the 50 mark.
Actually, Industrial Finance Corporation of India (IFCI) is a financial development agency under the Ministry of Finance. It was established in 1948 immediately after independence. It also has 7 subsidiary companies and one associate company. Although the company entered the stock market in November 1994, the stock has been gaining momentum for some time now.
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Return three times a year
After the corona period, its stock is continuously increasing. A jump of 1.25% was seen today ie March 28 at 11 am and its shares were trading at Rs 40.85 on the NSE. On one hand there is constant selling pressure in PSU companies and on the other hand IFCI is busy lining the pockets of its investors. Its stock price rose from Rs 9 to Rs 40 in the last one year. This means that the price has increased by 3.5 times.
1 lakh converted to 3.5 lakhs
If an investor had invested Rs 1 lakh in this stock even a year ago, now he has made a profit of 350% and the total amount has increased to Rs 3.5 lakh. The stock has gained 70% within 6 months. Its stock price hovered around Rs 3.5 during the Corona era, from where it has since become a multi-bagger registering an increase of almost 11 times in 4 years.
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How far will the next rate be?
According to indiapropertydekho.com, the fundamentals of the company are quite strong. Hence, the target price of its stock may go up to Rs 97.65 in 2024, while its shares will reach Rs 114.68 by 2025. If you want to invest in it for the long term, by 2030 its value may even cross Rs 178. Obviously, this stock has the potential to return almost 4 times over the next 6 years.
(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).
Tags: multibagger stock, Stock market, Stock market today, Stock returns
First Publication: March 28, 2024, 11:59 IST
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