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Multibagger Stock: This music company has given 420% return this year, did you buy?

Shares of this company have gained 160% in the last 6 months

The share price of music company Saregama India has so far increased by 420% in the year 2021. In this way, Saregama India has given multibagger ie manifold returns to its investors in the year 2021. In the beginning of January, the shares of Saregama were at Rs 830, which is now trading at Rs 4,320 per share.

Earlier this week, the company released its results for the second quarter of the current financial year. The company’s consolidated net profit grew 16% during the July-September quarter to Rs 33.8 crore. The company’s consolidated net profit stood at Rs 29 crore in the corresponding quarter of the last financial year. The company’s revenue grew 34% to Rs 145 crore as against Rs 108 crore in the corresponding quarter of the previous fiscal.

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If you look at the share price history of the company, the shares of Saregama India have increased by 18.5 times in the last 5 years. In October 2016, the company’s shares were at a price of Rs 238, which has now increased to a level of Rs 4,440. The shares of this company have gained 160% in just the last 6 months.

At the same time, in the last one year, it has invested about 677% of its investors. This means that if an investor had invested Rs 1 lakh in the shares of Saregama India in October last year, his one year rupee would have increased to Rs 7.77 lakh today.

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Brokerage ICICI Securities expects the company’s growth to continue through digital monetization. However, considering the recent surge in stocks, the brokerage has given a “Hold” rating to the shares of Saregama India.

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