Obscure offshore funds may have played a role in running up the share price of certain small-cap companies in India. Several of these funds have links with Hari Tibrewala, the Dubai-based ‘hawala operator’ said to be behind the Mahadev Online betting app scandal
Rategain Travel: Over the past year, the company has witnessed steady growth in its shares, soaring from ₹325 apiece to the current trading price of ₹781.95, resulting in a multibagger return of 140%.
In the past year, Rategain Travel, a multibagger stock, has seen a steady increase in its share price, climbing from ₹325 per share to the current trading price of ₹781.95, reflecting a return of 140%.
HEG, a leading graphite electrode manufacturer in India, has seen a remarkable turnaround with shares surging from ₹920.70 to ₹1902, rewarding shareholders with a 107% return. From its March 2020 low of ₹409, the shares are currently trading with a gain of 365%.