Turnaround Penny Stock Under Rs 5: Hits Upper Circuit for 3 Consecutive Days & Rallied Around 50 Per cent in Just 2 Weeks - Do you Own It?
The company’s shares have rallied around 50 per cent in just 2 weeks.
Akshar Spintex Limited is an India-based company engaged in the manufacturing and trading of spun cotton yarn. The company operates through the spinning of cotton yarn segment. Its products include fibers and yarns. Today the shares of the company have grabbed significant attention from the stock market participants leading to the upper circuit in the stock. Furthermore, the shares have been hitting back-to-back upper circuits for the last 3 days.
At the start of today’s trading session, the share of Akshar Spintex Limited opened at Rs 1.90 per share, compared to yesterday’s closing figure of Rs 1.84 per share on the BSE. The shares have reached the upper circuit price limit of 5 per share, 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 the company stands at Rs 151.98 crore.
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As per the Quarterly Results for Q1 FY25, the company reported a revenue from operations of Rs 37.02 crore, compared to Rs 38.45 crore in the previous period. The company’s operating profit stands at Rs 1.95 crore, up from Rs 1.76 crore, with a margin of 5.27 per cent. The net profit for Q1 FY25 was Rs 0.63 crore, compared to Rs 0.90 crore in the same period last year. Turning attention to the annual performance of the company, it reported a revenue of Rs 175 crore while the company’s net profit stood at Rs 3 crore in FY24 compared to the loss of Rs 3 crore.
Regarding the shareholding pattern, the promoters own 11.62 per cent of the company and the public or retail investors hold 88.38 per cent.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.