Heavy buying: Back-to-back upper circuit in this multibagger penny stock; Dolly Khanna bought 3,47,035 shares of the company!
Shares of the company have gained about 40 per cent in the last six months.
Shares of Rajshree Sugars & Chemicals Limited were locked in the upper circuit on Wednesday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained about 40 per cent. Ace investor Dolly Khanna bought 3,47,035 shares of the company in September 2023.
The company posted strong Quarterly Results. The revenue of the company for Q2FY24 stood at Rs 212.99 crore which grew by 15.09 per cent YoY. The operating profit of the company stood at Rs 28.58 crore, while the PAT of the company stood at Rs 17.18 crore, which grew by 7146.84 per cent.
Also read, Swing trading simplified: A guide to short-term trading strategies
Shares of Rajshree Sugars & Chemicals Limited have also delivered multibagger returns to their shareholders in the last three years. During this period, the company’s share price jumped from Rs 12.65 on November 14, 2020, to Rs 58.30 on November 08, 2023, an increase of about 350 per cent in a three-year holding period.
Rajshree Sugars & Chemicals Limited (RSCL), founded in 1985, is an integrated sugar company with three units at Theni, Villupuram, and Gingee in Tamil Nadu. The company has a combined crushing capacity of 11,500 TCD. It also has a total distillery capacity of 125 kilolitres per day.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.