52-week high alert: Heavy buying witnessed in this multibagger penny stock below Rs 25!

52-week high alert: Heavy buying witnessed in this multibagger penny stock below Rs 25!

Bhavya Rathod
/ Categories: Trending, Penny Stocks

The scrip witnessed massive spurt in volume by more than 3 times

On Thursday, shares of Manaksia Aluminium Company zoomed more than 14 per cent to trade at a new 52-week high level of Rs 27.10 apiece on BSE. The scrip witnessed massive spurt in volume by more than 3 times.

In March 2023, the net sales amounted to Rs 109.88 crore, representing a 14.62 per cent decrease compared to the March 2022 figure of Rs 128.70 crore. The EBITDA for March 2023 stood at Rs 7.57 crore, showing a decline of 2.07 per cent from the March 2022 value of Rs 7.73 crore. On the other hand, the quarterly net profit for March 2023 reached Rs 3.46 crore, indicating a significant increase of 93.21 per cent compared to the March 2022 figure of Rs 1.79 crore. 

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Manaksia Aluminium Company Ltd is engaged in the manufacturing of value-added secondary aluminium products like aluminium rolled sheets/coils. The products manufactured by the company are widely used in the construction and transportation sector, fan industry, automobiles, consumer durable sector etc.

The stock has witnessed significant buying activity as it has given multibagger returns of more than 160 per cent in just 3 years. Keep a close eye on this trending penny stock.

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