Many stocks that have recently launched in the stock market have performed well and made their investors rich. One such stock is TBO Tech Limited, which has filled the pockets of its investors and is now on the verge of joining the list of multibaggers.
The stock has fallen from its high level
The stock of TBO Tech Limited closed with a slight increase at Rs 1,576 on NSE yesterday, Friday. Currently, this stock has slipped below its high level. On a week basis, the stock is in loss of more than 8 percent, while on a month basis it is trading down by about 11.50 percent. The high level of the stock has been Rs 1,938.45.
The IPO came just 3 months ago
However, the investors of its IPO are still in great profit. The IPO of TBO Tech was launched in the beginning of May this year. The company’s IPO opened on May 8 and closed on May 10. After being subscribed about 87 times, TBO Tech’s IPO was listed on May 15. That is, it has been about 3 months since it hit the stock market.
Brokerage firm expects it to rise this far
The company had fixed a price band of Rs 875 to Rs 920 in the IPO. Compared to the upper price band, the stock is still up by more than 71 percent. Brokerage firm JM Financial believes that there is good scope for growth in this stock. It has given a target of Rs 1,950 to TBO Tech’s stock with a buy rating.
This is how it can become a multibagger stock
According to the target given by JM Financial, TBO Tech’s stock can rise by about 24 percent from the current level. At the same time, its growth can be more than 110 percent compared to the upper price band of the IPO. Meaning, it can be said that this stock can be included in the list of multibaggers. Stocks that give at least 100 percent return in a fixed period are considered multibaggers.
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Also read: TBO Tech’s explosive listing, made great earnings by entering at 55 percent premium