Heavy Buying Alert: Ashish Kacholia’s Portfolio Multibagger Penny Stock Under Rs 40 Hit Upper Circuit & 52-Week High On November 04
The stock gave multibagger returns of 238.3 per cent from its 52-week low of Rs 11.80 per share.
On Monday, one of the Top Gainers on BSE, shares of this multibagger penny stock gained 5 per cent or 1.90 per share upper circuit to Rs 39.92 per share from its previous closing of Rs 38.02 per share with a spurt in volume by more than 1.60 times on BSE. The stock gave multibagger returns of 238.3 per cent from its 52-week low of Rs 11.80 per share.
The stock name is JYOTI STRUCTURES LIMITED.
Jyoti Structures Ltd informed that a meeting of the Board of Directors of the company is scheduled to be held on Wednesday, November 06, 2024, at 3:00 PM via MS Teams (Video Conferencing). The agenda of the meeting includes consideration, approval, and recording of the following: 1) Unaudited Standalone and Consolidated Financial Results, along with the Limited Review Report, for the quarter and half-year ending September 30, 2024; 2) Related Party Transactions for the half-year ending September 30, 2024; 3) Allotment of Equity Shares under the ESOS Scheme 2021; and 4) Any other matter with the permission of the Chairperson.
About the Company & Financials
Established in 1974, Jyoti Structures Limited is a leading power transmission company headquartered in Mumbai, India. They specialize in turnkey projects for transmission lines, substations and distribution systems, offering a comprehensive range of services from design and manufacturing to construction globally. Jyoti Structures Limited is one of the few EPC service providers with the capability to execute entire power transmission projects. Jyoti Structures Ltd has a market capitalization of over Rs 3,500 crore.
An ace investor - Ashish Kacholia owns 2,20,36,118 shares in September 2024. Therefore, his portfolio gains Rs 4,18,68,625 in just 1 day at the upper price band (2,20,36,118 shares x Rs 1.90 per share). Additionally, FIIs increased their stake to 1.86 per cent in September 2024 compared to 0.62 per cent in June 2024.
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Jyoti Structures Limited has recently announced a significant development. The company has received a Letter of Acceptance from Adani Energy Solutions Limited for a turnkey project involving the survey, soil investigation, tower supply, foundation construction, erection, stringing, and commissioning of a 765 kV DC Bhuj II-Lakadia transmission line in Navinal, Gujarat. This project, valued at Rs 450.01 crore (excluding GST), is expected to be completed within 18 months by April 2026. In addition to this major contract, the company has secured two more substantial orders: a Rs 105.57 crore contract for tower supply for a 765 kV transmission line in Gujarat from a leading private developer, and a Rs 117.74 crore contract from Adani Energy Solutions Limited for the construction and partial supply of a 765 kV transmission line in Gujarat as part of the Khavda Phase IV-Part A initiative, scheduled for completion by October 31, 2025.
Results: The net sales decreased by 52.1 per cent to Rs 88.29 crore while net profit increased by 107 per cent to Rs 5.09 crore in Q1FY25 compared to Q1FY24. In its annual results, the net sales increased by 96.9 per cent to Rs 451.38 crore in FY24 compared to Rs 229.23 crore in FY23. The company reported a net profit of Rs 28.86 crore in FY24 compared to a net loss of Rs 4.07 crore in FY23, an increase of 809 per cent.
Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.