The company has a good return on equity (ROE) track record: a 3-year ROE of 32.4 per cent and has been maintaining a healthy dividend payout of 32.3 per cent.

From a technical standpoint, the stock exhibits a robust upward trajectory, marking a multi-year breakout reminiscent of April 2019 levels. The stock has soared to a fresh 52-week high, with all short and long-term moving averages trending upwards in the desired sequence

The stock gave multibagger returns of 245 per cent in just 1 year and a whopping 6,000 per cent in 3 years.

The latest quarterly report paints a picture of soaring success for Zaggle, with a record-breaking surge in revenue and a staggering 919.5 per cent year-on-year jump in profit after tax in Q3FY24. Notably, the renowned investor Ashish Kacholia has shown considerable confidence in the company, holding a substantial stake of 2.21 per cent.

At the pre-opening bell, the frontline index S&P BSE Sensex opened in green with a gain of 456.93 points or 0.63 per cent.

Max pain at the end of today's trade for weekly expiry on February 8 stands at 21900.

The following penny stocks are likely to be in focus on Wednesday, February 07, 2024

Market volatility, as measured by India VIX, has increased by 1.17 per cent, indicating a minor rise in market volatility.

The market capitalization of BSE-listed companies was Rs 3,86,88,252 crore or approx. Rs 387 lakh crore as of February 06, 2024.

On February 05, 2024, foreign institutional investors (FII) bought shares worth Rs 518.88 crore, while domestic institutional investors (DII) offloaded shares worth Rs 1,188.68 crore.