All-time high multibagger penny stock at Rs 88 & FIIs bought 27,73,291 shares: Heavy buying witnessed in this pharma stock; hit 52-week high on February 24
The stock gave multibagger returns of 235 per cent in just 1 year and up 300 per cent from its 52-week low of Rs 21.98 per share.
On Friday, shares of Sigachi Industries Ltd surged 4.75 per cent and traded at an all-time high and fresh 52-week high of Rs 87.90 per share from its previous closing of Rs 83.91 per share. The total quantity traded was over 60 lakh shares on the BSE & NSE exchanges and saw a spurt in volume by more than 3 times.
Sigachi Industries was incorporated in 1989. It is engaged in the manufacturing of Microcrystalline Cellulose (MCC) which is widely used as an excipient for finished dosages in the pharmaceutical industry. The company has a market cap of over Rs 2,800 crore and has delivered good profit growth of 45 per cent CAGR over the last 5 years.
The company announced stellar Quarterly Results (Q3FY24) and nine-month results (9MFY24) for the financial year 2024. According to quarterly results, revenue increased by 61.2 per cent to Rs 110.9 crore, EBITDA increased by 61.4 per cent to Rs 22.6 crore, PBT increased by 60.2 per cent to Rs 19.7 crore and PAT increased by 65.3 per cent to Rs 16.2 crore in Q3FY24 compared to Q3FY24. According to nine-month results, revenue increased by 28.4 per cent to Rs 294.8 crore, EBITDA increased by 29.7 per cent to Rs 60.3 crore, PBT increased by 19 per cent to Rs 52.5 crore and PAT increased by 16 per cent to Rs 42 crore in 9MFY24 compared to 9MFY24.
DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
In December 2023, Foreign Institutional Investors (FIIs) bought 27,73,291 shares of this company and increased their stake to 1.82 per cent from 0.95 per cent in September 2023. The company ex-traded the stock split of equity shares from Rs 10 to Rs 1 on October 09, 2023.
The stock gave multibagger returns of 235 per cent in just 1 year and up 300 per cent from its 52-week low of Rs 21.98 per share. Investors should keep an eye on this small-cap pharma stock.
Disclaimer: The article is for informational purposes only and not investment advice.
For more such updates on the go, Click here to join our WhatsApp Channel