FIIs bought 28,002 shares & PAT jumps 552 per cent: Penny stock under Rs 30 jumps after the company received the trading approval of 38,20,827 equity shares
The stock is up by 87.92 per cent from its 52-week low of Rs 14.57 per share and gave multibagger returns of over 7,900 per cent in 5 years.
Today, shares of Lorenzini Apparels Ltd gained 4 per cent to Rs 27.38 per share from its previous closing of Rs 26.34 per share. The stock’s 52-week high is Rs 35.90 while its 52-week low is Rs 14.57.
Lorenzini Apparels Ltd., established in 2007, designs, manufactures, and markets ready-made garments for men and women through their own "Monteil" brand, offering formal, semi-formal, and casual wear, both in their exclusive stores and online, while also utilising third-party contractors for some garment production. The company has a market cap of over Rs 400 crore.
Lorenzini Apparels Ltd informed that the company has received the Trading Approval of 38,20,827 equity shares under conversion of warrants issued on a preferential Basis from the Bombay Stock Exchange Limited and National Stock Exchange of India Limited.
Earlier, Lorenzini Apparels Ltd informed that the company has received the Trading Approval of 22,92,527 equity shares under conversion of warrants issued on a preferential Basis from the Bombay Stock Exchange Limited and National Stock Exchange of India Limited.
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According to the Quarterly Results, the total income increased by 62 per cent to Rs 27.99 crore and net profit increased by 554 per cent to Rs 12.17 crore in Q2FY25 compared to Q1FY25. In its half-yearly results, the total income increased by 38 per cent to Rs 45.24 crore and net profit increased by 438 per cent to Rs 14.03 crore in H1FY25 compared to H1FY24. Looking at the annual results, the net sales increased by 24 per cent to Rs 54.76 crore and net profit skyrocketed by 110 per cent to Rs 5.30 crore in FY24 over FY23.
In September 2024, FIIs took a fresh entry and bought 28,002 shares or 0.02 per cent. As of September 2024, the promoters of the company own 57.07 per cent; FIIs own 0.02 per cent and the rest 42.91 per cent stake is owned by the public shareholders. The stock is up by 87.92 per cent from its 52-week low of Rs 14.57 per share and gave multibagger returns of over 7,900 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.