Penny stock under Rs 50 soars 85 per cent from its 52-week low; Trades ex-split today!

The stock is up by 70 per cent in just 6 months whereas BSE Small-cap Index is up by 34.8 per cent.

On Monday, the benchmark indices were trading lower. BSE Sensex Index and NSE Nifty-50 Index are down by 0.50 per cent each. About 1,012 shares have advanced, 2,536 declined, and 170 are unchanged on the BSE.

Along with the market in the red, shares of Sigachi Industries Ltd plunged 1.71 per cent to Rs 40.30 per share with an intraday high of Rs 40.85 and an intraday low of Rs 39.65. The stock is up by 70 per cent in just 6 months whereas BSE Small-Cap Index is up by 34.8 per cent.

The Board of Directors of the company have approved a stock split of existing 1 equity share of a face value of Rs 10 each into 10 equity shares of a face value of Rs 1 each. The company fixed the record date as Today, October 09, 2023.

Sigachi Industries Ltd has a market cap of over Rs 1,200 and has delivered good profit growth of 44.50 per cent CAGR over the last 5 years. The company's financial performance in the first quarter of fiscal year 2024 was impressive. Total revenue increased by 17 per cent to Rs 84.70 crore, profit before tax increased by 42 per cent to Rs 14.71 crore, and profit after tax increased by 36 per cent to Rs 10.86 crore. The net sales increased by 20.80 per cent to Rs 302 crore and net profit increased by 10 per cent to Rs 44 crore in FY23 over FY22.

Sigachi Industries was incorporated in 1989. It is engaged in the manufacturing of Microcrystalline Cellulose (MCC) which is widely used as an excipient for finished dosages in the pharmaceutical industry.

The stock is up by 85 per cent from its 52-week low of Rs 22 per share. Investors should keep an eye on this small-cap pharma stock.

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