Heavy Buying: Penny Stock from Shipping Industry Under Rs 100 Hits Upper Circuit Today; Gains Over 50 Percent in Just 1 Week!
Spurt in volumes by more than 7.5 times in just 2 hours of today’s trading session.
The company is engaged in clearing and forwarding as well as transportation services. It operates at 4 seaports in Gujarat: Mundra, Hazira, Kandla, and Pipavav. The company currently manages a fleet of 9 owned commercial trailers for moving containers and also hires third-party transport operators to meet customer shipping demands.
At the start of the day's trading session, shares of Cargotrans Maritime opened at Rs 93 per share, compared to the previous day's closing figure of Rs 79.08 per share on the BSE. Currently, the shares are at Rs 92.50 per share. The stock has rallied 20 per cent today and hit the upper circuit, reflecting strong demand in the market. The company's current market capitalization stands at Rs 37.74 crore, and the stock has generated an impressive return of over 50 per cent in just 1 week. Today there is a significant spurt in trading volumes by more than 7.5 times in just 2 hours of today’s trading session.
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As per the Quarterly Results, in Q4 FY24, Cargotrans Maritime recorded a revenue of Rs 28.58 crore compared to Rs 29.49 crore. The operating profit for Q4 FY24 stood at Rs 0.84 crore. The net profit for Q4 FY24 was Rs 0.58 crore compared to a profit of Rs 0.54 crore. Looking at the annual performance, the company generated a revenue of Rs 61.70 crore in FY24, compared to Rs 69.61 crore in FY23. The operating profit for FY24 was Rs 2.415 crore with a net profit of Rs 1.78 crore.
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According to the shareholding pattern of Cargotrans Maritime, promoters own a 73.53 per cent stake, while public investors hold 26.47 per cent.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.