Heavy buying witnessed in this multibagger penny stock; do you own it?

Heavy buying witnessed in this multibagger penny stock; do you own it?

Bhavya Rathod
/ Categories: Trending, Penny Stocks

The stock has witnessed significant buying activity as it has given multibagger returns of more than 200 per cent in just 3 years

On Friday, shares of Karma Energy zoomed more than 8.5 per cent to trade at an intraday high of Rs 38.45 apiece on BSE. The scrip witnessed massive spurt in volume.

In March 2023, the net sales amounted to Rs 1.15 crore, showing a decrease of 40.32% compared to the Rs 1.93 crore recorded in March 2022. As for EBITDA, it reached Rs 3.18 crore in March 2023, reflecting an impressive growth of 1425% compared to the Rs 0.24 crore in March 2022. The quarterly net profit in March 2023 reached Rs 4.26 crore, indicating a significant increase of 266.79% from the Rs 2.56 crore reported in March 2022.

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Karma Energy Ltd specializes in the generation of power from renewable sources such as wind, hydro, and others. The company operates in the renewable energy sector, focusing on power generation through sustainable means. It is involved in the production of wind power, hydropower, and solar power. The energy generated is transmitted through government-owned grids and state utilities. In addition, the company generates revenue by directly selling wind power to state governments and by participating in the sale of renewable energy certificates.

The stock has witnessed significant buying activity as it has given multibagger returns of more than 200 per cent in just 3 years. Moreover, the stock has zoomed more than 45 per cent in the past 1 year. Keep a close eye on this trending stock.

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