Heavy buying: Back-to-back upper circuit in this multibagger penny stock under Rs 20; scrip up by 245 per cent in just 1 year!

The stock is up by 46.26 per cent in just 6 months and gave multibagger returns of over 245 per cent in 1 year.

On Friday, the benchmark indices ended the trading session in the green. BSE Sensex Index was up by 0.74 per cent at a level of 65,721.25. On the broader market, indices were trading in green with BSE Mid-Cap Index up by 0.65 per cent and BSE Small-Cap Index up by 0.66 per cent.

Along with the market in green, one of the gainers on BSE, shares of Artemis Electricals & Projects Ltd surged 5 per cent upper circuit to Rs 17.20 per share from its previous closing of Rs 16.39. The stock’s 52-week high is Rs 18.75 and its 52-week low is Rs 4.20. In the recent trading session, the stock has hit back-to-back upper circuits. The shares of the company saw a spurt in volume by more than 20.09 times on BSE.

Artemis Electricals & Projects Ltd is engaged in the manufacturing and trading of LED lighting and lighting accessories. In FY22-FY23, the Board of Directors of the company has approved a sub-division/stock split of the face value of Rs 10 each into ordinary equity shares of the face value of Rs 1 each as of the record date. The record date for the stock split was March 31, 2023.

Talking about the financials, the company has a market cap of over Rs 400 crore. The net sales increased by 160 per cent to Rs 30.98 crore and net profit increased by 346 per cent to Rs 8.88 crore in Q4FY23 compared to Q4FY22. The net sales increased by 69.60 per cent to Rs 58.22 crore and net profit increased by 152 per cent to Rs 6.28 crore in FY23 compared to FY22.

The stock is up by 46.26 per cent in just 6 months and gave multibagger returns of over 245 per cent in 1 year. Investors should keep an eye on this micro-cap stock.

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