Penny stock under Rs 50 jumps more than 15 per cent as Board likely to announce Rights Issue along with Q2 FY25 Quarterly Results!

The shares of the company have an ROE of 19.8 per cent and a ROCE of 27.3 per cent.

Today, shares of Lancer Containers Lines Ltd were jumped by 15 per cent to Rs 34.76 per share from its previous closing of Rs 29.98. The stock’s 52-week high of Rs 110 and its 52-week low is Rs 28.10.  The company has a market cap of over Rs 827 crore.

The company informed that a meeting of the Board of Directors of the Company will be held on Wednesday, 13th November 2024 to consider and approve:

1. The Standalone and Consolidated Un-Audited Financial Results of the Company and Limited Review Report for the 2nd Quarter and Half year ended 30th September, 2024.
2. Important decision pertaining to Right Issue.
3. Any other Business as may be decided by the Board of Directors.

Lancer Container Lines Ltd. engages in the provision of logistics services. It is engaged in the business of freight forwarding, clearing and forwarding, non-vessel operating common carrier, and trading in containers and related activities. The firm also offers less than container load (LCL) consolidation and break-bulk cargo services. The company was founded on March 7, 2011 and is headquartered in Mumbai, India.

According to Quarterly Results, the net sales increased by 4.87 per cent to Rs 172 crore and net profit decreased by 14 per cent to Rs 12 crore in Q1FY25 compared to Q1FY24. In its annual results, the net sales decreased in FY24 compared to FY23. The company reported a net profit of Rs 58 crore in FY24 compared to net profit of Rs 54 per cent in FY23, an increase of 7.07 per cent.

The stock gave returns of 16 per cent from in last one week. Investors should keep an eye on this Small-Cap stock.

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