Multibagger Penny Stock Under Rs 35 Hit 20 Per Cent Upper Circuit As Company Reported 1,294 Per Cent Jump In PAT
The stock is up by 94.5 per cent from its 52-week low of Rs 16.52 per share and gave multibagger returns of 725 per cent in 3 years & whopping 1,300 per cent in 5 years.
On Monday, one of the Top Gainers on BSE, shares of Ashoka Metcast Ltd hit 20 per cent upper circuit to Rs 32.13 per share from its previous closing of Rs 26.78 per share. The stock’s 52-week high is Rs 35.71 and its 52-week low is Rs 16.52. The shares of the company saw a spurt in volume by more than 3.50 times on BSE.
The sudden rise in the stock price was due to the company announcing stellar Quarterly Results (Q2FY25) and half-yearly results (H1FY25). Here are the details: -
According to quarterly results, the net sales increased by 143 per cent to Rs 14.33 crore and net profit increased by 1,294 per cent to Rs 5.91 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, the net sales increased by 27 per cent to Rs 25.59 crore and net profit increased by 464 per cent to Rs 5.01 crore in H1FY25 compared to H1FY24. In FY24, the net sales increased by 31 per cent to Rs 66.25 crore and net profit increased by 55 per cent to Rs 4.79 crore compared to FY23.
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Ashoka Metcast Ltd, established in 2009, is a prominent player in the steel trading industry. They offer a diverse range of steel products, including TMT bars, angle bars, MS bars and steel channels. These products are widely used in various construction projects, from residential buildings to large-scale infrastructure developments like bridges and flyovers. Ashoka Metcast Ltd's commitment to quality and reliability has made it a trusted supplier in the steel market.
The company has a market cap of Rs 80.31 crore and has delivered good profit growth of 61.3 per cent CAGR over the last 5 years. The stock is up by 94.5 per cent from its 52-week low of Rs 16.52 per share and gave multibagger returns of 725 per cent in 3 years & whopping 1,300 per cent in 5 years. Investors should keep an eye on this multibagger penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.