97.83 per cent returns from its 52-week low: Penny stock under Re 1 hit a 10 per cent upper circuit on July 03
The stock is up by 97.83 per cent returns from its 52-week low of Re 0.46 per share.
The main Indian indices finished the day higher today. The BSE Sensex was up 0.69 per cent at 79,987. In terms of sector performance, the indices were trading higher, with the Top Gainers being the BSE Bankex Index and the BSE Telecommunication Goods Index.
Along with the market in green, shares of Sun Retail Ltd were locked in a 10 per cent upper circuit to Rs 0.91 per share from its previous closing of Rs 0.83, being one of the top gainers on BSE. The stock has a 52-week high of Rs 1.14 and a 52-week low of Rs 0.46. The shares of the company saw a spurt in volume by more than 2 times on BSE. The company has not made any significant announcements of late. Hence, the rally in the share price could be driven purely by the market forces.
Sun Retail Ltd, founded in 2007, is a company that deals in both the branding and trading of edible oils like cottonseed, groundnut, and sunflower oil, as well as other agricultural and non-agricultural commodities. They also participate in government skill development projects and offer commodities trading services for products like oil, along with bullion trading for precious metals like gold, potentially as a hedge against inflation. The company has a market cap of Rs 14.12 crore and reported amazing numbers in its Quarterly Results (Q4FY24) and annual results (FY24).
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Sun Retail ex-traded bonus shares in the ratio of 3:5 and a stock split in the ratio of 10:1 on the record date which was Friday, April 13, 2021. The stock is trading at 0.86 times its book value and debtor days have improved from 268 to 33.1 days. The stock is up by 97.83 per cent returns from its 52-week low of Rs 0.46 per share. Investors should keep a close watch on this micro-cap penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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