 "Penny stocks to buy in 2022: Experts give buy tag to THIS Rs 5 multibagger stock")
New Delhi: In 2021, several multibagger stocks provided impressive returns to investors. But going two months into 2022, the stock market has witnessed a downwards movement due to which many have suffered massive losses.
So, if you’re interested in making investments in penny stocks, which are high-risk investments, but offer rewarding returns, you can put your money in Vikas Lifecare shares, according to share market experts.
Vikas Lifecare shares have more than doubled since listing on May 7, 2021, providing more than 100% return to early investors. However, the share’s price has dropped from its 52 week high of Rs 7.95 to Rs 5.25 amid the weak market sentiment in the secondary markets.
A few market experts, however, remain bullish on the penny stock, expecting it to come out as a multibagger stock in 2022, according to a report by Mint. The chart pattern on the stock reportedly looks strong.
Experts are now predicting that the stock is likely to witness a massive jump as soon as the secondary market witnesses a reverse in the trend. The change in trend may have begun on February 23, as the stock has jumped 5% from its previous close of Rs 5 to Rs 5.25.
However, experts predict that by the end of 2022, the penny stock’s price could jump up to Rs 12 from the current price of around Rs 5 – a return of about 140%.
In the last six months, the multibagger stock has nearly provided a return of about 50% to investors. However, in the last one month or so, the price of the stock has plummeted about 35% due to weak market sentiments. Also Read: Russia-Ukraine Crisis: Here’s what could get costlier in India amid international conflict
At the current price levels, the market capitalization of Vikas Lifecare is about Rs 610.94 Crore, and the profit to equity ratio stands at about 288.94. Also Read: Indiamart to acquires 26% stake in industrial marketplace IB Monotaro for Rs 104.2 crore
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