Shares of a smallcap company are in high demand today even as the frontline indices traded lower in a volatile session. The stock, Spice Lounge Food Works,
opened in the red at Rs 31.28 versus the previous close of Rs 32.92. The counter reversed the losses and went on to hit the day's upper price band at Rs 34.56, up 5 per cent. Trading in the counter was halted thereafter. Spice Lounge Food Works shares today gained after four days of consecutive fall. The stock is currently trading higher than all the key moving averages. Spice Lounge is a diversified company involved in technology-enabled hospitality, operating restaurants and IT services. Its share have delivered multibagger returns, resulting in wealth gain for investors. As per BSE data, the counter has yielded a bumper return of 162 per cent in the last one year. In two, three and five years, the smallcap stock has skyrocketed more than 600 per cent, 700 per cent and 2800 per cent, respectively.
