Multibagger IPO: Tega Industries share price has been in upside mood since early morning deals. The multibagger IPO that has doubled allottees money in near one and half years has hit life-time high today despite weak stock market sentiments in India. In fact, the small-cap stock hit 10 per cent upper circuit within few minutes of stock market’s opening on Wednesday. Despite weakness on Dalal Street, Tega Industries share price today opened upside and went on to hit life-time high of ₹899.45 apiece on NSE, hitting 10 per cent upper circuit immediately after5 the stock market’s opening bell.
This rally in Tega Industries shares has taken place after the small-cap company declared strong Q4 results on Tuesday. The company reported an increase of 36.7 per cent on YoY basis in operating revenue to ₹396.4 crore. Its operating EBITDA jumped 49.2 percent to ₹102.8 crore.
Tega Industries share price history
Tega Industries shares are one of the multibagger stocks that Indian stock market has produced in last one year. In this time, this small-cap stock has doubled shareholders money by delivering more than 100 per cent return to its positional investors. So, Tega Industries is both multibagger IPO and multibagger stock available for trade on both NSE and BSE.
Tega Industries IPO was launched in December 2021 at a price band of ₹443 to ₹453 apiece. The public issue received strong response by investors as the issue got subscribed more than 219 times of its original offer. It was subscribed over 666 times in NII category whereas it got subscribed 215.45 times in QIB category. However, its retail portion got subscribed 29.44 times.
Tega Industries shares made a dream debut on NSE and BSE on 13th December 2021 as it opened on BSE at ₹753 apiece whereas on NSE it opened at ₹760 apiece. So, the IPO delivered around 67 per cent listing premium to its allottees. However, the small-cap multibagger IPO witnessed profit booking after listing and bottomed out at around ₹420 apiece levels in February 2022. But, the stock has been in continues uptrend after making its bottom in February 2022 and for those who believe in bottom fishing, this scrip has more than doubled from its ₹420 apiece levels.
After around four hours of trade on Wednesday NSE Nifty is down 131 points, BSE Sensex has corrected 532 points whereas Bank Nifty has tumbled 572 points.
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Download The Mint News App to get Daily Market Updates.
Updated: 31 May 2023, 01:23 PM IST