Heavy buying in this multibagger penny stock under Rs 50; Rockets 17.85 per cent in just 1 day!
The stock gave multibagger returns of 1,100 per cent in 3 years and a whopping 9,000 per cent since its listing.
The benchmark indices, BSE Sensex and NSE Nifty-50 are in red, down 0.37 per cent and 0.43 per cent respectively. Among the individual stocks, Hardwyn India Ltd stood out with a remarkable surge of 18.85 per cent. The stock price appreciated from Rs 38.61 to Rs 45.50, accompanied by a 2.23 times spurt in volume. This rally, however, was not driven by any recent company announcements, suggesting that market forces were the primary catalyst behind the price appreciation. The stock's 52-week high and low of Rs 51.77 and Rs 26.10 respectively provide context to the current price movement.
Hardwyn India Ltd, listed on both BSE and NSE, specializes in manufacturing architectural hardware and glass fittings for residential and commercial structures, providing comprehensive solutions. The company boasts a market capitalization of over Rs 1,570 crore.
In a move to capitalize on further growth opportunities, Hardwyn India Ltd. established a new subsidiary, Slim-X. This wholly-owned company leverages Hardwyn's expertise in architectural hardware to develop innovative ultra-slim, high-performance aluminium profiles. Slim-X aims to capture industry demand within two years by offering aesthetically pleasing, convenient, and long-lasting products that target architects, designers, builders, and contractors. With its focus on cutting-edge technology, Slim-X positions itself to be a major player in the market and contributes to Hardwyn India Ltd.'s continued success.
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Looking at the annual performance, Hardwyn India Ltd. continued its positive trajectory. Standalone net sales for the entire fiscal year (FY24) climbed 8.35 per cent to Rs 135.50 crore, and net profit grew by 8 per cent to Rs 9.75 crore compared to the previous year. The company's consolidated annual results were equally impressive, with net sales reaching Rs 157.84 crore and a net profit of Rs 10.23 crore in FY24. The stock gave multibagger returns of 1,100 per cent in 3 years and a whopping 9,000 per cent since its listing. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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