Curated By: Business Desk
Last Updated: September 08, 2023, 18:30 IST
Mold Tek shares witnessed an increase of 309% in a year.
Mold Tek shares are currently trading above their 20, 50, 100, and 200-day Exponential Moving Average (EMA) levels.
Mold-Tek Technologies Ltd, a global company specialising in engineering and IT services, has delivered exceptional returns for investors in recent times. Its shares recently achieved an all-time high on September 6, marking a significant turnaround. Just 11 months ago, on September 30, 2022, the stock was at a 52-week low of Rs 85.10. In a remarkable transformation, it surged by an astonishing 368%, reaching a record high of Rs 398.45 on September 4, 2023. This translates to impressive growth, where an investment of Rs 1 lakh made 11 months ago has now multiplied to Rs 4.68 lakh. Mold-Tek Technologies’ shares have witnessed a significant surge, capturing the interest of stock exchanges. Consequently, the company has been placed under the initial phase of the Long-Term Additional Surveillance Measure (ASM) framework, signifying increased monitoring of its price movements.
According to a Money Control report citing ICICI Securities, Mold Tek shares are currently trading above their 20, 50, 100, and 200-day Exponential Moving Average (EMA) levels. It’s noteworthy that the Rs 385.9 level represents a significant resistance point. From a technical perspective, Mold-Tek Technologies boasts a Relative Strength Index (RSI) of 70.2, signifying its position in the overbought zone.
Mold Tek Technologies shares have seen a remarkable one-year increase of 309%, soaring from Rs 92 on September 7, 2022, to Rs 376.25. In 2023, it has delivered an impressive 142% return and a substantial 50% growth over the past six months. Similarly, it has witnessed a substantial 50 per cent growth in the last six months. Even in the long term, this stock has generated multi-bagger returns, with a remarkable 668 per cent profit for investors over five years.
Investors who put Rs 1 lakh into this multi-bagger share 11 months ago now have Rs 4.68 lakh. Those who invested Rs 1 lakh six months ago now have Rs 1.5 lakh. Investors who held onto their Rs 1 lakh investment in this stock for five years now see it worth Rs 7,67,346 today.
Mold-Tek Technologies is serving clients in India, the US, Europe, the UAE, Australia, and Canada.
