Bombay Oxygen Investments Stocks: NBFC company Bombay Oxygen Investment has gained a lot from its name this year. Due to the inclusion of Oxygen in the name, investors made a fierce purchase in the shares of this company this year. Even when there was pressure on the stock market in the past and most stocks weakened, the shares of Bombay Oxygen Investment Company gave 148% returns in 1 month. Meanwhile, on April 19, it reached its 52-week high of 25500. However, after the truth came to light, in the business of April 20, it took a lower circuit of 5 percent.
Up 148 percent in 1 month
The stock has gained up to 148 per cent in the last 1 month. During this time, the stock rose from Rs 10249 to Rs 25500. Talking about this year, from January 1 to April 19, the stock rose about 147 percent. On January 1, the company’s share price was Rs 10313. It reached Rs 25500 on 19 April. That means there was a rise of 147 percent.
People understood that the company making oxygen
In fact, with the introduction of oxygen in the name, investors thought that the company makes oxygen. There is a huge demand for oxygen in the country due to increasing cases of corona virus. In such a situation, the investors felt that the company would get good demand and there would be good profit. Due to this, people invested heavily in the shares of the company in the past. As a result, within a month, the company’s stock strengthened to around 150 per cent.
What is the truth
But yesterday, when it was revealed that people are investing indiscriminately in the company without checking fundamentals and being confused by the name, the shares of the company fell drastically on April 20. Actually the company does not produce oxygen, but is a non-banking financial company (NBFC). Subsequently, on 20 April, it had a lower circuit of 5 per cent; It is believed that when the market opens on April 22, its shares will fall.
Let us tell you that since the second wave of COVID has reached the peak in the country, the shares of the company have increased by about 150 percent since then. 1 month ago, the share price was Rs 10249, which reached Rs 25500 on April 19. Between 12 April and 19 April, there was an upper circuit daily in the company’s stocks.