Penny stock under Rs 15: Shares of this micro-cap company hit the upper circuit on outstanding results; do you have it?

The stock is up by 21.39 per cent in just 5 days and 40 per cent in just 6 months.

On Friday, the benchmark indices ended the day high with BSE Sensex Index and NSE Nifty-50 Index up 0.41 per cent each.

One of the Top Gainers on BSE, shares of EL Forge Ltd jumped and locked in a 5 per cent upper circuit to Rs 10.50 per share from its previous closing of Rs 10. The stock has a 52-week high of Rs 14.67 and a 52-week low of Rs 6.31.

The stock is hitting back-to-back upper circuit because the company reported excellent numbers in its Quarterly Results and annual results. The net sales increased by 62.02 per cent and net profit increased by 103 per cent in Q4FY23 over Q4FY22. The net sales increased by 44.94 per cent in FY23 over FY22.

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EL Forge Ltd manufactures auto ancillary parts viz. rough steel forgings for the automobile industry. The shares of the company saw a spurt in volume by more than 2.16 times on BSE.

The company has a market cap of Rs 21.34 crore. The stock is up by 21.39 per cent in just 5 days and 40 per cent in just 6 months. EL Forge Ltd, a micro-cap stock should be kept under the radar.