Heavy buying in this multibagger penny stock under Rs 35 with 6,000 per cent returns; Scrip is up by 6 per cent today!

The stock gave multibagger returns of 830 per cent in 3 years and a whopping 6,000 per cent since its listing.

Today, the stock market was trading in green with the BSE Sensex Index up by 0.15 per cent and the NSE Nifty-50 Index up by 0.22 per cent. On the broader market, the indices were also trading in green with the BSE Mid-Cap Index up by 0.73 per cent and the BSE Small-Cap Index up by 1.03 per cent.

Along with the market in green, shares of Hardwyn India Ltd gained 6 per cent to Rs 30.71 per share from its previous closing of Rs 28.96. The stock’s 52-week high is Rs 52.70 and its 52-week low is Rs 26.10. The shares of the company saw a spurt in volume by more than 1.12 times.  

Hardwyn India Ltd, listed on both BSE and NSE, specializes in manufacturing architectural hardware and glass fittings for residential and commercial structures, providing comprehensive solutions. The company boasts a market capitalization of over Rs 1,000 crore.

Hardwyn India Ltd released its financial results for the fourth quarter (Q4FY24) and the full fiscal year 2023-2024 (9MFY24). The company's standalone performance in Q4FY24 showed a positive increase, with net sales rising 23.6 per cent to Rs 36.94 crore compared to the same quarter last year. They also reported a net profit of Rs 3.30 crore in Q4FY24. The consolidated results for the quarter mirrored this success, with net sales reaching Rs 44.15 crore and a net profit of Rs 3.33 crore.

Also Read: 8,000 per cent jump in PAT: Multibagger penny stock under Rs 50 hit fresh 52-week high as Board to announce stock split soon!

Looking at the annual performance, Hardwyn India Ltd. continued its positive trajectory. Standalone net sales for the entire fiscal year (FY24) climbed 8.35 per cent to Rs 135.50 crore, and net profit grew by 8 per cent to Rs 9.75 crore compared to the previous year. The company's consolidated annual results were equally impressive, with net sales reaching Rs 157.84 crore and a net profit of Rs 10.23 crore in FY24.

In a move to capitalize on further growth opportunities, Hardwyn India Ltd. established a new subsidiary, Slim-X. This wholly-owned company leverages Hardwyn's expertise in architectural hardware to develop innovative ultra-slim, high-performance aluminium profiles. Slim-X aims to capture industry demand within two years by offering aesthetically pleasing, convenient, and long-lasting products that target architects, designers, builders, and contractors. With its focus on cutting-edge technology, Slim-X positions itself to be a major player in the market and contributes to Hardwyn India Ltd.'s continued success.

Earlier, the company implemented a trading phase where ex-bonus shares were traded at a ratio of 1:3 and an ex-stock split took place at a ratio of 10:1 for the equity shareholders based on the record date. The company has set Monday, June 05, 2023, as the fixed record date for both the bonus share and stock split. The stock gave multibagger returns of 830 per cent in 3 years and a whopping 6,000 per cent since its listing. Investors should keep an eye on this small-cap stock.

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