Multibagger Stock: This stock can make you a millionaire on just Rs 32,000 investment, check details

WRITTEN BY Raunak Jain | Updated: Feb 2, 2023, 10:45 AM IST

Multibagger Stock, Share Market, Poly Medicure Share, Poly Medicure Stock Price, Stock Market, Poly Medicure Shares details, IPO

Invest in this stock for strong returns. Good quarter results with revenue and profit increase.

Multibagger stock: Investing in the stock market can be a risky business, but the rewards can be substantial if you choose the right stock. Poly Medicure shares are one such stock that has delivered impressive returns to investors over the years and has been referred to as a multibagger stock.

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On Tuesday, the company's shares closed at Rs 890 after a 2.29 per cent increase, however, today it saw a decline of 3.45 per cent. Despite this, the stock has given tremendous returns since 2009, with a return of more than 31573 per cent from its original price of Rs 2.81 per share. If an investor had invested Rs 32,000 in this stock back then, it would now be worth over Rs 1 crore.

In the short term, Poly Medicure shares have also delivered promising results, with its stock price reaching Rs 1,044.40 at one point. Although there has been some selling pressure in recent times, brokerage firm ICICI Securities predicts that the company has the potential to deliver strong returns in the future. The company's financial performance has been strong, with a 23.7 per cent increase in revenue to Rs 280 crore in the October to December quarter, along with a 50 per cent increase in profit to over 50 crores.

If you are looking to invest in the stock market, Poly Medicure shares might be worth considering. It is always important to consult a financial advisor and conduct thorough research before making any investment decisions.