Rs 10,000 invested in this stock below Rs 100 has turned into Rs 1 lakh in just 6 months

Rupee-Reuters
Rs 10,000 invested in this stock below Rs 100 has turned into Rs 1 lakh in just 6 months

Rupee-Reuters

Indian stock markets have seen a raging run in the last one year up until January 2018 outperforming several developed economies as far as the returns are concerned with Sensex advancing more than 30% led by the sharp uptick in shares of blue-chip companies such as HDFC Bank, Reliance Industries, Bharti Airtel, Maruti Suzuki, Tata Steel, IndusInd Bank, Indiabulls Housing Finance, DLF, and Titan. In the financial year 2017-2018, Sensex surpassed the psychological levels of 30,000 to 34,000 and Nifty achieved the five-digit mark of 10,000 for the first time in the history.

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But in the recent past, a downturn has been observed in Indian equities led by the global sell-off further worsened by LTCG on stocks being taxed and the unravelling of nation’s biggest banking fraud at India’s second-largest public sector bank Punjab National Bank. In the month of February itself, the benchmark Sensex lost about 1,850 points or 5.1%.

Amid the heavy turmoil in the domestic markets, we take a look at small-cap stock below Rs 100 which had turned Rs 10,000 into Rs 1 lakh in just 6 months.

Shares of California Software have grown 10-fold in the span of nearly last 6 months. The stock of California Software had jumped 968.75% in last six months to Rs 59.85 from a level of Rs 5.6 as on 14 August 2017. A sum of Rs 10,000 invested in the shares of California Software six months ago had turned into Rs 1,06,875. Shares of California Software made a 10-year peak of Rs 114.05 on 21 December 2017 on NSE. Earlier in November last year, the stock of California Software broadly rose 5% every day which pushed the share to clock a 180% gain in just one month.

California Software shares are categorised under group ‘B’ of Bombay Stock Exchange and have a scrip code: 532386 and an ISIN (international security identification number): INE526B01014. California Software commands a market capitalisation of about Rs 77 crore on BSE. According to the reported financial statement, California Software had posted zero sales for the three straight quarters in the financial year 2017-2018. Despite zero sales, California Software had a profit of Rs 17 lakh for the third quarter ended 31 December 2017 as against Rs 1.63 crore in the same period a year ago.

Source by:-financialexpress

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