Multibagger Stock Hits Lifetime High, Here’s Why; Shares Rally 284% in 1 Year

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Multibagger Stock Hits Lifetime High, Here’s Why; Shares Rally 284% in 1 Year

By Malvika Gurung

Investing.com -- Shares of the private railway wagon manufacturer Titagarh Wagons (NS: TITW ) hit an all-time high of Rs 410 apiece on Thursday, surging 4.85% in the session, and extending its upside trend for the third day in a row.

The shipbuilder stock has declined only once in the past seven consecutive sessions, jumping 16.4% in the period.

Titagarh Wagons’ stock hit a record high on Thursday, following the announcement of a meeting of the company’s Board of Directors scheduled on Saturday, June 10, 2023, for consideration of raising funds.

The private shipbuilding company will convene a Board meeting on Saturday for consideration, evaluation and approval of a proposal to raise funds by issuing equity of shares or other securities, including preferential issue, QIP (qualified institutional placement), rights issue, or through any other permissible mode or a combination of such regulatory approvals.

As a result, the company has closed its Trading Window for Designated Persons and their immediate relatives to deal in Titagarh Wagons’ securities from June 8, 2023, to June 12, 2023, including both days.

So far in the calendar year 2023, the small-cap stock has jumped sharply by 77%, while skyrocketing a robust 283.89% in the past one-year period, making Titagarh Wagons a multibagger stock.

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