Multibagger penny stock under Rs 10: Shares of this Micro-cap company hits back-to-back upper circuits post stellar results!
The stock is up by 40 per cent in just 5 trading sessions.
On Friday, one of the Top Gainers on BSE, shares of R O Jewels Ltd zoomed 10 per cent upper circuit to Rs 6.79 per share from its previous closing of Rs 6.18. The stock gave multibagger returns of 263 per cent in just 1 year. The stock is hitting back-to-back upper circuits in the recent trading sessions.
RO Jewels Ltd. (BSE: 543171), a leader in the gems and jewellery industry, has announced stellar earnings for Q4FY23 and FY23. The net sales increased by 1,345 per cent to Rs 490.72 crore and net profit skyrocketed by 2,414 per cent to Rs 1.92 crore in Q4FY23 over Q4FY22. The net sales increased by 917.25 per cent to Rs 506.52 crore and net profit skyrocketed by 1,123 per cent to Rs 2.51 crore in FY23 over FY22.
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RO Jewels Ltd. (BSE: 543171) is primarily focused on offering a range of gold-based chains, bracelets, gold/silver bars, and necklaces. The company have a market cap of Rs 24.57 crore. The stock has a PE of 12.20x whereas the sectoral PE is 40x with a ROE of 22.41 per cent and a ROCE of 20.40 per cent. The shares of the company saw a spurt in volume by more than 3.93 times on BSE.
Recently, the company underwent a stock split, where the face value of each share was reduced from Rs 10 to Rs 2. The record date for this stock split was March 17, 2023. Prior to the stock split, the company also issued a bonus in the ratio of 82:32, with a record date of June 02, 2022. Investors should keep an eye on this micro-cap stock.