Shipbuilding Stock Under Rs 25: Hits Back-to-Back Upper Circuit, Stock Gains Over 140 per cent in Just 1 Month!
The company’s shares have delivered an impressive return of over 240 per cent in just 1 year only.
Incorporated in 1975, Garware Marine Industries Ltd initially engaged in the manufacturing and marketing of fishing nets made from nylon yarn. However, due to a prolonged industry downturn, the company suspended all manufacturing activities in 2013 and shifted its focus to the ship repair division. Currently, the company specializes in repairing vessels for various shIPOwners and other workshops.
At the start of the day's trading session, the stock opened at Rs 24.26 per share, compared to the previous day's closing figure of Rs 23.11 per share on the BSE. Finally, the shares closed at Rs 24.26 per share on the BSE. The stock has reached the upper circuit price limit of 5 per cent, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers. The current market capitalization of Garware Marine Industries Ltd stands at Rs 13.99 crore, and this penny stock has generated an impressive return of over 141 per cent in the past 1 year.
As per the Quarterly Results, in the fourth quarter of FY24, Garware Marine Industries Ltd recorded a revenue of Rs 0.15 crore. The operating loss for Q4 FY24 stood at Rs 0.07 crore. The net loss for Q4 FY24 was Rs 0.07 crore. Looking at the annual performance, the company generated a revenue of Rs 0.66 crore in FY24, compared to Rs 1.22 crore in FY23. The operating loss for FY24 was Rs 0.12 crore, with a net loss of Rs 0.07 crore.
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Regarding the shareholding pattern, the promoters own 37.72 per cent of the company and the public or retail investors hold 59.86 per cent. Government owns a 2.43 per cent stake in the company.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.