Multibagger stock: This diamond manufacturer has more than doubled investors' money in less than 6 months

Gautam Gems shares on Thursday locked in an upper circuit of 5 per cent. The stock opened at Rs 20.55 and jumped 5 per cent to quote Rs 21.15. Trading in the counter was halted immediately.

The counter has hit the upper circuit in the last 5 straight sessions. The small-cap SME stock has yielded a multibagger return to its investors, thus resulting in wealth gain. The scrip has yielded a whopping 153 per cent return in the past six months.

Earlier on Wednesday, the company informed the BSE that it has partly paid the amount of its share as the right issue of Rs 49 crore. The amount will be used for renewable energy. The company had earlier announced that the board is mulling approving a proposal to foray into the renewable energy sector.

Gautam Gems is a Surat-based importer, exporter and manufacturer of rough and polished diamonds. According to BSE data, promoter and promoter group hold 21.41 per cent stake in the company while 78.59 per cent is held by the public.

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