Government-Backed Debt-Free Penny Stock Under Rs 15 Hits Consecutive Upper Circuits & 52-Week High; Surges Over 90 Per cent in Just 2 Weeks!
This microcap company achieved a debt-free status in FY24. As of Q1 FY25, the government has held a stake in the company since March 2018.
The shares of this government-backed company have been hitting consecutive upper circuits as well as 52-week highs. Sellers are not ready to sell the stock in their portfolios, while buyers are unable to purchase shares due to the back-to-back upper circuits. Today, it hit the upper circuit again, resulting in an impressive return of over 90 per cent in just 2 weeks.
At the start of the day's trading session, shares of Lypsa Gems and Jewellery Ltd opened at Rs 11.48 per share, compared to the previous day's closing figure of Rs 10.94 per share on the BSE. Currently, the shares are at Rs 11.48 per share. The stock has rallied around 4.94 per cent and hit a 52-week high and the upper circuit, reflecting strong demand in the market. The company's current market capitalization stands at Rs 33.85 crore.
Read Under Rs 35: Multibagger Company Secures Multiple Contracts Worth USD 1 Million for Its AI Arm—Complete Details Inside!
As per the Quarterly Results, in the Q1 FY25, Lypsa Gems and Jewellery Ltd recorded a revenue of Rs 1.42 crore compared to Rs 2.42 crore. The operating profit stood at Rs 0.13 crore. The net profit stood at Rs 0.07 crore compared to a profit of Rs 0.01 crore. Looking at the annual performance, the company generated a revenue of Rs 9 crore in FY24. The operating loss for FY24 was Rs 32 crore with a net loss of Rs 33 crore compared to a net loss of Rs 44 crore in FY23.
Read Multibagger Solar Energy Company Secures International Order Worth USD 10,83,720: FIIs & DIIs Purchased Stake for the First Time!
Incorporated in 1995, Lypsa Gems and Jewellery Ltd has three core activities: rough preparation, manufacturing, and polished diamond marketing. Based in Mumbai, the company has affiliates in Antwerp, Dubai, and Moscow. Lypsa has its manufacturing facilities in Navsari and at SurSez, Surat. It is one of the very few diamond companies listed on the Bombay Stock Exchange. Since its inception, Lypsa has specialized in rough preparation and distribution.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
According to the shareholding pattern of the company, the promoters hold a 36.37 per cent stake. Public investors own 63.38 per cent of the shares, while Government owns 0.24 per cent stake in the company.
Check out my recent article here.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.