This multi-bagger stock is down in the dumps now; Check why

Ashnisha Industries stock price has plunged over 53 per cent in the March quarter, with retail shareholding rising sharply to 82.65 per cent from 73.43 per cent.

Ashnisha Industries, a micro-cap company, with market capitalization of less than Rs 100 crore has witnessed a roller-coaster ride in the last one-and-half years. The stock rose like a phoenix in the first 10 months, only to falter in the following period.

A close evaluation of Ashnisha Industries stock price in relation with the company's earnings and shareholding pattern shows how the stock price fared over the last one year, and how retail investors may have burned their hands at the counter.

Ashnisha Industries, formerly known as Ashnisha Alloys, is engaged in the business of manufacturing and trading of steel