Under Rs 100 & Back-to-Back Upper Circuit for 3 Days with Heavy Volumes: Keep This Wires and Cables Stock on Your Radar!

The company’s shares have delivered an impressive return of over 170 per cent in just 2 years only.

Incorporated in 2017, Jigar Cables Ltd specializes in manufacturing electric wires and cables under the SIGMA brand in India. Besides its core business, the company engages in trading solar panels and equipment as a non-strategic activity. Jigar Cables Ltd also has a wholly owned subsidiary, Jigar Polymers Limited, which manufactures PVC and XLPE for the backward integration of key raw materials needed for its products.

At the start of the day's trading session, the stock opened at Rs 73.26 per share, compared to the previous day's closing figure of Rs 66.60 per share on the BSE. Currently, the shares are at Rs 73.26 per share on the BSE. The stock has reached the upper circuit price limit of 10 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 company's current market capitalization stands at Rs 51.52 crore, and the stock has generated an impressive return of over 80 per cent in the past 1 year.

As per the Quarterly Results, in the fourth quarter of FY24, Jigar Cables Ltd recorded a revenue of Rs 26.22 crore. The operating profit for Q4 FY24 stood at Rs 1.10 crore. The net profit for Q4 FY24 was Rs 0.68 crore. Looking at the annual performance, the company generated a revenue of Rs 42.64 crore in FY24, compared to Rs 28.35 crore in FY23. The operating profit for FY24 was Rs 1.98 crore, with a net profit of Rs 1.04 crore.

Regarding the shareholding pattern, the promoters own 44.48 per cent of the company and the public or retail investors hold 55.52 per cent.

Investors must keep this micro-cap stock on their radar.

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