Multibagger Stock: Amid buzz in the chemicals segment, the shares of the newly listed Megamoney Finechem have delivered around 120 per cent returns to their shareholders in about 45 days of re-listing as a separate entity on August 18, 2021. The chemical stock was re-listed on NSE on 18 August 2021. ₹386 per. So, after being listed on ₹386 per share level, Meghmoney Finechem share price . has increased to ₹856 per stock level today – Multibagger returns to its investors in approximately 45 days of its listing.
Share price of Megamoney Finechem Ltd., a leading manufacturer of chlor-alkali products and its value-added derivatives, hit its all-time high on Friday. ₹856 after hitting the upper circuit. The share price had gained 9.69 per cent on Thursday as well.
The high price of caustic soda is a major reason behind the recent rally in this chemical stock. This is expected to help the company’s revenue. The supply chain of caustic soda has been strained due to power outages in China and Hurricane IDA strikes in the US.
But after opening, the stock made a strong start in the Indian stock markets. ₹386, a premium of about 200 per cent of the closing price of the original unit ( ₹138.25) Meghmoney Organics Ltd. Meghmoney Finechem Ltd. was listed as a separate entity with the objective of maximizing value for shareholders. Investors seem to agree with the management’s decision and as of October 1, only MFL traded at 625 per cent of the closing price of parent company Megamoney Organics Ltd.
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