Mukul Agrawal bought 31,00,000 shares of this penny stock under Rs 50; Do you own it?

As of Friday’s closing, the total value of the shares is Rs 13,63,69,000.

Indian stock markets plunged on Friday, with the BSE Sensex Index down 0.35 per cent and the NSE Nifty-50 Index down 0.42 per cent.

However, this penny stock which was recently listed caught the eyes of investors. Here are the details:

An ace investor, Mukul Agrawal bought 31,00,000 shares or a 1.26 per cent stake in the company. As of Friday’s closing, the total value of the shares is Rs 13,63,69,000 or Rs 13.64 crore.

The stock gained 3.43 per cent to reach an intraday high of Rs 46.15 per share, up from its previous close of Rs 44.62 per share. However, the stock closed the day down 1.41 per cent at Rs 43.99 per share.

The stock name is ALLCARGO TERMINALS LTD.

Allcargo Terminals operates container freight stations (CFS) and inland container depots (ICD) across the country, offering one of India’s widest CFS networks. The company cap of over Rs 1,000 crore. The shares of the company have a PE of 18.8x whereas the industry PE is 30x.

According to Quarterly Results, net sales increased by 6.73 per cent to Rs 180.69 crore in Q1FY24 compared to Q1FY23, but its operating profit decreased by 30.5 per cent to Rs 28.99 crore and net profit decreased by 52.05 per cent to Rs 9 crore. For the full year FY23, the company reported net sales of Rs 706 crore, operating profit of Rs 143 crore, and net profit of Rs 59 crore.

The stock is up by 14 per cent in 15 days and 27 per cent in 1 month. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.