Dark horse stock of the day: This micro-cap metal stock rallies 10 per cent and hits upper circuit with heavy volumes!

The company’s shares have delivered a return of around 400 per cent to its shareholders over the past 3 years.

Ashoka Metcast Ltd trades in steel, goods, and other products. The company was incorporated in 2009.  Today the company experienced a significant surge in its share price. 

At the start of the day's trading session, the stock opened at Rs 20 per share, compared to the previous day's closing figure of Rs 18.27 per share on the BSE. As of the time of writing this article, the shares are currently at Rs 20.09 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 capitalisation stands at Rs 50.22 crore, and the stock has generated an impressive return of around 392 per cent in the past 3 years. 

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Stock Price Chart (Weekly)

Financial Performance:

In Q4 FY24, the company reported a revenue of Rs 39.39 crore compared to a revenue of Rs 19.25 crore, representing a gain of 105 per cent YoY. The company’s operating profit reached Rs 5.13 crore compared to a profit of Rs 1.25 crore. The operating margin stood at 13.02 per cent. The net profit of the company was Rs 3.57 crore in Q4 FY24 compared to a net profit of Rs 1.25 crore. Turning your attention to the annual performance of the company, it reported a revenue of Rs 66.25 crore, compared to Rs 50.44 crore in FY23. The company reported an operating profit of Rs 7.01 crore. The company’s profit was Rs 4.79 crore in FY24.

According to the shareholding pattern, the promoters of the company hold 53.64 per cent while the remaining 46.36 per cent is held by the public or retail investors.

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

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