In the beginning of 2022, the price of this stock was just Rs 3, now the price is Rs 66.
This year the shares of Hemang Resources have climbed up to 2,026.60 per cent.
This company does the business of coal trading and infrastructure.
Mumbai. indian stock market (Stock Market Crash) In this year 2022, there was a big upheaval and investors are deeply disappointed due to the current decline even as the year goes by. However, it is not that investors have not earned from the market this year, the shares of many small companies have made investors strong earnings. Hemang Resources, a similar stock in the year 2022 (Hemang Resources Share Price) Has alienated the investors.
This stock has proved to be one of the biggest Multibagger Stocks of the year 2022. It is a coal supplying company. In the year 2022, the stock of this company has so far climbed up by about 2,026.60 per cent. In the beginning of 2022, the price of this stock was just Rs 3, but now the price is Rs 66.
How did the stock give such strong returns?
Actually the business of Hemang Resources is related to coal supply. For the last 2 years, the demand for electricity had increased during the hot summer season, due to which the import of coal increased. According to government data, the power sector has imported around 38.8 million tonnes of coal during the April to October period this year. This increase in demand and prices of coal benefited due to exports.
Hemang Resources informed about the increase in its revenue in the result. The company said that in the first half of the current financial year, its revenue stood at Rs 155.53 crore. And the net profit stood at Rs 19.52 crore. Due to the price and supply of coal, there was a huge jump in the shares of Hemang Resources. But due to low liquidity in such penny stocks, investment is considered more risky.
What is the business of the company?
Hemang Resources started its business in 1993 as a Non-Banking Finance Company (NBFC) under the name BCC Housing Finance & Leasing Company Limited. In 2015, its name was changed to Hemang Resources. At the same time, the main business of the company also became coal trading.
This company does the business of coal trading and infrastructure. The company sells both imported and indigenous coal. It also trades in land, and provides stevedoring and logistics services.
FIRST PUBLISHED : December 25, 2022, 07:15 IST