December 10, 2021
1 min read

Simplex Papers’ stocks deliver 6,700% returns this year

In a classic example of a penny stock transforming into a multibagger one, the shares of Simplex Papers have delivered over 6,700 per cent returns till now in 2021…reports Asian Lite News

Till late 2020, the company’s shares were priced below Re 1.

Shares of the company hit a 52-week high of Rs 63 per share on Thursday.

It also hit the five percent upper circuit during the day’s trade.

Simplex Papers’ stocks deliver 6,700% returns this year

Stock prices ranging in single digit are known as penny stocks, and they typically have high volatility associated with them.

On the other hand, multibagger stocks are those whose share prices rise exponentially over a short period of time.

The Centre in 2017 amended the Indian Forest Act, 1927 excluding bamboo produced in non-forest areas from the definition of tree, thereby, easing its transportation from growing belts to processing plants in big cities. Bamboo is a key component in the manufacturing of paper.

Besides, the Centre plans to promote domestic paper manufacturing as India is a major importer of paper.

ALSO READ: Ed-tech firm upGrad to acquire Talentedge for 350cr

According to the company’s website, Simplex Papers is one of the oldest paper units in Maharashtra, established in the year 1983-84 on the agri-based raw material mix, and located in Gondia, Maharashtra.

The market capitalisation of the company is worth Rs 18 crore.

Previous Story

India’s vehicle retail sales decline

Next Story

CAIT demands ‘Work from Home’ policy

Latest from Business

Microsoft Cuts Deep

The fresh job cuts come less than two months after Microsoft announced it was laying off more than 6,000 employees…reports Asian Lite News Microsoft is set to cut around 9,000 jobs —

Northeast Is Growth Engine

Scindia also provided updates on the government’s efforts to facilitate the entry of SpaceX’s Starlink service into India. “All due diligence from the Ministry’s side is complete Union Minister for Communications and

India to Empower Global South

India is emerging as a pivotal force in the global transition to clean energy, with Union Minister for New and Renewable Energy, Pralhad Joshi, asserting that the country is empowering the Global

Maruti’s Global Push Breaks Record

June shipments hit 37,842 units, signalling robust global demand Maruti Suzuki India recorded its highest-ever monthly exports in June, shipping 37,842 units and marking a new milestone that highlights the company’s expanding

India Bats for Fairer Global Finance: FM Sitharaman

FM Sitharaman stated that we believe that optimal regulation fosters innovation and stability….reports Asian Lite News India supports reforms to the international financial architecture to enhance inclusivity and equity, including Multilateral Development
Go toTop

Don't Miss

India’s Technical Textiles Market Booms

The technical textiles industry holds immense potential to drive productivity,

Hasina, Prachanda to Attend Modi’s Swearing-in

Bangladesh PM Hasina and Nepal Prime Minister Pushpa Kamal Dahal