Debt-free penny stock under Rs 35 to keep under radar as company order worth Rs 75 million & Board likely to announce stock split

The stock is up by 29.31 per cent from its 52-week low of Rs 22 per share.

Julien Agro Infratech Limited has bagged an order of unbranded rice worth Rs 75 million. The company has specialized in dealing in agricultural products for the last two years and it will strengthen the existing business and the long-term goal of the company. The said order has to be completed by December 2024.

Julien Agro Infratech Limited informed that the Meeting of the Board of Directors is scheduled to be held on Tuesday, October 08, 2024, at the Registered Office of the Company for consideration of stock split/sub-division of equity shares.

Julien Agro Infratech Ltd, a company established in 1997, initially focused on land development, construction services, and related infrastructure projects. However, in FY23, the company shifted its business strategy to include the manufacturing and trading of agricultural products in India. This transition involved trading raw agricultural commodities, leading to a change in the company's name from Silverpoint Infratech Limited to Julien Agro Infratech Limited on August 25, 2023.

On Wednesday, shares of Julien Agro Infratech Limited plunged 5.89 per cent to Rs 28.45 per share from its previous closing of Rs 30.23 per share with an intraday high of Rs 30.68 and an intraday low of Rs 28.12. The stock’s 52-week high is Rs 34.63 and its 52-week low is Rs 22. The stock is up by 29.31 per cent from its 52-week low of Rs 22 per share.

The company has a market cap of Rs 56.30 crore and as of June 2024, the company is debt-free. In FY24, the company reported net sales of Rs 21.35 crore and net profit of Rs 0.05 crore. Investors should keep an eye on this micro-cap stock.

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