Rajnish Retail 1000% one-year gain, 12000% in 5 years! Buy

Once considered a penny stock, Rajnish Retail has defied expectations by delivering remarkable returns over the long term. Within just one year, the stock has surged an impressive 1101%, soaring from ₹7.51 in May 2023 to a record high of ₹90.19 in intra-day trading as of today.

Over the past five years, investors have witnessed an extraordinary rally of 12255%, starting from ₹0.73 in May 2019. Even within the last three years, the stock has exhibited exceptional growth, skyrocketing over 6388% from ₹1.39 in May 2021.

Despite its recent surge, the stock's performance in 2024 has been a mixed bag. While it posted gains in three out of five months, including a 6% rise in May following a substantial 39.5% surge in April, it also experienced setbacks, with declines of 8.3% in March and 5.2% in February. However, it kicked off the year on a positive note, recording an 11.5% increase in January.

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It's worth noting that the stock is currently trading under ESM Stage 2, indicating enhanced surveillance measures implemented by the National Stock Exchange (NSE) in India. Under this stage, trading occurs through periodic call auctions with a trade-for-trade settlement and a 2% price band.

Rajnish Retail Limited, formerly known as Sheetal Diamonds Limited, is engaged in the manufacture and trading of diamonds and diamond jewelry in India and internationally. The company offers a wide range of products, including white loose diamonds, fancy cut diamonds, rings, earrings, pendants, bracelets, bangles, and necklace sets. Additionally, it conducts online trading of designer gold and diamond jewelry and exports its products. The company, incorporated in 1994 and based in Mumbai, India, underwent a name change to Rajnish Retail Limited in February 2024.

In terms of earnings, the company's net profit in the March quarter (Q4FY24) experienced a slight YoY decline to ₹35 lakh from ₹37 lakh in the same period last year. However, its total income witnessed a significant YoY increase, soaring 205% to ₹4.2 crore compared to ₹1.39 crore in the corresponding quarter last year.

According to analysis by ICICI Direct, the stock showcases several positive indicators driving its robust performance. Notably, it exhibits strong momentum, trading above both short-term and long-term moving averages, indicating sustained upward momentum. Furthermore, the company demonstrates strong annual EPS growth.

However, there are notable weaknesses, including a decrease in mutual funds' shareholding in the last quarter and poor cash generation from core business activities, with declining cash flow from operations over the past two years.

Investing in shares of small companies like Rajnish Retail presents the potential for significant gains due to their lower stock prices. However, this comes with inherent risks such as limited liquidity, reduced oversight, and increased volatility. Therefore, investors should conduct thorough research and employ prudent risk management strategies when considering such investments.

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