Multibagger stock: Iris Clothings shares are one of the multibagger stocks that Indian stock market has produced in recent years. However, it seems that the small-cap stock still has much steam left. This multibagger stock today opened with an upside gap and went on to hit intraday high of ₹448 apiece on NSE, which is now its new life-time high on NSE. However, profit booking soon triggered and the small-cap stock retraced from its 52-w2eek highs. Iris Clothing shares are currently trading at around ₹441 apiece levels.
Iris Clothings share price history
As mentioned earlier, Iris Clothings has remained a money-making stock for its investors since its listing on NSE. The small-cap company had offered its public issue in October 2018 at fixed price of ₹90 per share and the small-cap stock had listed at ₹92, delivering a tepid ₹2 per share premium. The small-cap stock remained a tepid mover till 2021 when it started giving strong upside movement in last two years. In the last two years, this small-cap stock has risen from around ₹125 per share to ₹441 apiece, delivering more than 250 per cent return in these two years.
In last one year, this multibagger stock has delivered multibagger return to its positional investors as the stock has risen from around ₹200 to ₹441 apiece levels, delivering to the tune of 120 per cent return to its positional investors.
Iris Clothings news
Iris Clothings a readymade garment company engaged in designing, manufacturing, branding, and selling garments for kids wear, has successfully launched and dispatched winter wear apparels designed with Mickey and friends’ characters across India. These apparels will be sold in the premium category under Company’s own brand DOREME and will soon be launched on their D2C website www.doreme.in as well. The small-cap company aims to launch more product categories designed with different Disney characters in the upcoming quarters.
In upcoming products designed with Disney characters, Santosh Ladha, Managing Director of the Company said, “The order pipeline is strong, and we are making significant headway so far, on rolling out apparels designed with Disney characters.”
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Updated: 06 Jul 2023, 03:02 PM IST