From 52-Week Low to Upper Circuit: Penny Stock Under Rs 20 Jumps Over 7 Per Cent in Bearish Market; FIIs Bought 28,002 Shares
The stock gave multibagger returns of 1,600 per cent in 3 years and a whopping 3,900 per cent in 5 years.
Lorenzini Apparels Ltd shares rallied 7.4 per cent today, closing at Rs 15.27 after hitting a 52-week low of Rs 14.22 intraday. This recovery comes despite a broader market downturn, with the BSE Sensex and NSE Nifty-50 both down over 0.30 per cent. The stock's 52-week high stands at Rs 35.90 per share.
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.
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.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
Lorenzini Apparels Ltd informed that the company had received Trading Approval for a total of 61,13,104 equity shares, comprising 38,20,827 shares and 22,92,527 shares, under the conversion of warrants issued on a preferential basis from the Bombay Stock Exchange Limited and National Stock Exchange of India Limited.
In September 2024, FIIs took a fresh entry and bought 28,002 shares or 0.02 per cent. As of September 2024, the company's promoters 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 gave multibagger returns of 1,600 per cent in 3 years and a whopping 3,900 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.