Considering the stocks that provide more than 100% return in a short period of time, multibagger stocks attract equity investors during a downturn in the market. In spite of the sell-off in the domestic equity market, some multibagger stocks have better returns than average, which causes the CAGR in stock price movement to be significantly higher. Baroda Rayon Corporation is one of the multi-bagger stocks that has delivered multiple times returns in a short period of time and is also approaching the upper circuit since June 1, 2022, despite market instability and significant price declines in the domestic market throughout the current year.
Share price history of Baroda Rayon Corporation Ltd
The shares of Baroda Rayon Corporation approached the upper circuit limit on 1st June 2022 from the level of ₹4.50 and on Friday the stock hit an upper circuit of ₹11.04 up by 4.94%. As per the data of BSE, the last quantity traded was 710 by volume. The stock has risen from ₹5.11 to the current level during the past five years, representing a multi-bagger return of 116.05 per cent. The stock’s multi-bagger return over the last year was 137.93 per cent, as the price rose from ₹4.64 to its current level of ₹11.04. Year-to-date (YTD), the stock has generated a multibagger return of 137.93 per cent so far in 2022, and during the past six months, it has maintained this return at a consistent level. The stock has increased from a price of ₹5.36 on June 6, 2022, to its current price during the past month, representing a multibagger return of 105.97 per cent. Baroda Rayon is trading above the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages at the level of ₹11.04, which is a new 52-week high for the price. The stock has increased by 15.60 per cent during the previous five trading days.
