Heavy buying alert: Low PE penny stock under Rs 15 jumps over 10 per cent as company to operate the aircrafts as an air taxi service from Mohali International Airport
The stock is up by 42.34 per cent from its 52-week low of Rs 9.40 per share with a PE of 9x whereas the industry PE is 40x.
Today, a significant milestone was achieved as the company signed an agreement with Jonjua Air Limited. This strategic partnership will see Jonjua Air Limited operating Piper Archer DX aircraft as an Air Taxi Service from Mohali International Airport. The diesel-powered Piper Archer DX, equipped with cutting-edge technology and exceptional fuel efficiency, is perfectly suited for this role. This Air Taxi Service will provide convenient connectivity between Mohali, Punjab, and popular destinations like Shimla Airport, Kullu-Manali Airport, Mata Vaishnu Devi shrine, Badri Nath Ji, and Hemkund Sahib, leveraging the nearest airports to these locations. Jonjua Overseas Limited, acting as the consultant for Jonjua Air Limited, will play a crucial role in ensuring the smooth operation of this innovative air taxi service.
Earlier, HSJONJUA AEROINFRA Private Limited, under the leadership of Major Harjinder Singh Jonjua (Retd.), is poised to elevate its aviation operations with the recent signing of a Position Reservation Agreement with Piper Aircraft, Inc. for two Piper Archer DX aircraft. This strategic move aligns with the company's vision to expand its fleet and enhance operational capabilities, with Mohali International Airport serving as the base for its aircraft operations. The Piper Archer DX, powered by the Continental CD-155 diesel engine, offers a sustainable and efficient flying experience, while the Garmin G1000 NXi avionics suite ensures state-of-the-art technology and pilot comfort. With the expert guidance of Jonjua Overseas Limited, HSJONJUA AEROINFRA is well-positioned to make a significant impact on the aviation industry and contribute to its growth.
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About the Company
Jonjua Overseas Ltd is an Indian company involved in various sectors, including service exports, corporate consultancy, agriculture, and the sale of printed books. The company offers services such as service exports, printing of books, agriculture, and domestic service sales. The company has a market cap of Rs 8.44 crore. According to the financials, the company reported positive numbers in its half-yearly results (H2FY24) and annual results (FY24).
On Wednesday, shares of Jonjua Overseas Ltd gained 11.31 per cent to Rs 13.38 per share from its previous closing of Rs 12.02 with an intraday high of Rs 13.80 and an intraday low of Rs 12.50. The stock’s 52-week high is Rs 15 and its 52-week low of Rs 9.40. The stock is an SME stock having a lot size of 4,082 shares and currently trading at 1.10 times its book value. The shares of the company saw a spurt in volume by more than 2.82 times on BSE.
The stock is up by 42.34 per cent from its 52-week low of Rs 9.40 per share with a PE of 9x whereas the industry PE is 40x. Investors should keep an eye on this micro-cap stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.