Multibagger stock under Rs 5 hit 20 per cent upper circuit as it reports a 588 per cent jump in net profit!

The stock gave multibagger returns of over 450 per cent in 3 years whereas BSE Sensex Index is up by 72 per cent.

On Monday, the benchmark indices ended the trading session in the green with BSE Sensex Index up by 0.12 per cent at a level of 65,401.92. About 1,515 shares have advanced, 2,217 have declined and 163 were unchanged on BSE.

Along with the market in green, one of the Top Gainers on BSE, shares of Nyssa Corporation Limited zoomed 20 per cent to Rs 4.78 per share from its previous closing of Rs 3.99. The shares of the company saw a spurt in volume by more than 6.02 times on BSE. The stock has a 52-week high of Rs 9.90 and a 52-week low of Rs 3.31.

The company announced its Quarterly Results ended June 30, 2023, which caused the sudden rise in stock price. Details below:

Consolidated Financial Highlights for the Q1FY24: 

• Net sales stood at Rs 4.76 crore, up 215.86 per cent compared to Q1FY23. 
• Operating stood at Rs 3.85 crore, up 960.88 per cent compared to Q1FY23. 
• Profit before tax stood at Rs 3.83 crore, up 959.12 per cent compared to Q1FY23.  
• Profit After Tax of Rs 2.49 crore, up 588.64 per cent compared to Q1FY23.  
• The EPS for Q1FY24 is Rs 0.83

Nyssa Corporation Limited is engaged in real estate development and trading & investment activities. The company has a market cap of Rs 14.34 crore with a 3-year stock price CAGR of 76 per cent. The shares of the company have a PE of 5x whereas the industry PE is 28.7x.

The stock gave multibagger returns of over 450 per cent in 3 years whereas BSE Sensex Index is up by 72 per cent. Investors should keep an eye on this micro-cap stock.

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