Multibagger shares jump 60% in a month despite stock market weakness

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Multibagger Stock: After the outbreak of the Russian-Ukrainian war, stock markets around the world are under selling fire, including Dalal Street. However, despite global markets reeling from the geopolitical crisis, some Indian stocks have managed to deliver outstanding returns to its shareholders. Shares of Chennai Petroleum Corporation are among them. It’s one of the multibagger stocks in 2022 and has returned nearly 60% in the past month – a period in which the Nifty 50 index fell more than 8% while BSE Sensex lost about 7.80%.

Chennai Petroleum Corporation share price history

Over the past month, this multibagger stock has climbed by approximately 178 to 284 levels each on NSE, registering an increase of around 60% over this period. Since the beginning of the year (YTD), this energy stock has gone from almost 103 to 284 levels each, appreciating nearly 175% this year. The multibagger stock has jumped 145% in the last 6 months and 135% in the last year respectively.

The current market capital of Chennai Petroleum Corporation is 4,270 crores and its trading volume on Tuesday stands at 27,43,647, almost half of its average volume for the past 20 days of 54,21,370. Book value per share of Chennai Petroleum Corporation Ltd is over 200. 52 week high in Chennai Petroleum Corporation share price is 321 per share, which it reached last week when its 52-week low is 94.45 per share.

Alpha back in 2022

As mentioned above, this multibagger stock has generated an alpha return in 2022 as over the past year, Nifty has lost over 8% while Sensex has fallen around 7.80%. Since the beginning of the year, the BSE Small-cap index has collapsed by more than 12% while the Mid-cap index has plunged by 11.90% during this period.

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