Shares of the formal wear maker surged 6,431%, the biggest gain in the long run.

Multipacker Penny Stock: There is good news for those who invest in stocks and earn profits. Among the multibagger penny stocks, Lorenzini Apparels stock has been a long-term performer. Over the past four years, the company's multipacker penny stock has posted a robust 6,431 percent gain in price terms. The share price of this company was 0.38 in July 2020 and has now increased to 24.82. Looking at the stock's performance over the past three years, it has gained 5,415 percent. In July 2021, the price of this stock is only Rs.0.45. Lorenzini Apparel's stock performed strongly in three months, according to The Mint, a brokerage firm.The stock's recent performance has reinforced Lorenzini Apparel's excellent track record, which has seen 91 percent growth over the past year and is expected to rise further in 2024. There has been a robust growth of 60 percent year-on-year. The stock has performed exceptionally well, though it has seen gains in only 3 of the 7 months this year. Shares of the company rose more than 11 percent in July. This quarter's performance halted 4 consecutive months of decline. The stock fell 8 percent in June, 2 percent in May, 7 percent in April, 10.4 percent in March, and rose 19 percent in February following another big surge of 63 percent in January. . Lorenzini Apparels stock hit a record high on February 23. However, it is currently 25 percent away from its February 23, 2024 high of Rs 33.02. Meanwhile, it has risen 124 percent from its 52-week low of Rs 11.09 on July 17, 2023. What is the job of Lorenzini Apparels? Lorenzini Apparels Limited designs, manufactures and markets ready-to-wear garments in India. It manufactures formal, semi-formal and casual wear for men and women under the brand name Monteil. The company offers its products to customers through retail stores and e-commerce channels. Lorenzini Apparels Limited was established in 2007 and is headquartered in Delhi, the capital city of India. Also Read: Indians to retire from Russian Army, 50 soldiers to return home How much revenue does Lorenzini Apparels generate? Lorenzini Apparels posted a net profit of Rs 27.37 lakh in the fourth quarter of fiscal 2023-24, which ended in March, an increase of around 282 per cent from Rs 7.17 lakh last year. However, the company posted a loss of Rs 52 lakh in the third quarter ended December 2023. The company's total revenue for the quarter stood at Rs 554.6 lakh, up from Rs 263 lakh a year ago and Rs 277.6 lakh in the December quarter. In the financial year 2023-24, the company will spend Rs. 324 lakhs as against a consolidated net loss of Rs. 455 lakhs significantly lower than Rs. Also read: Paytm won't collect joining bonus from sacked employee, labor ministry slams The post Formal wear maker's shares soar 6,431%, long-term big gain appeared first on Prabhat Khabar.