Heavy Buying: Watch out for this high ROE & high ROCE penny stock that was locked in upper circuit on January 31

The stock is up by 26.5 per cent from its 52-week low of Rs 56.48 per share.

Today, shares of HMA Agro Industries Ltd hit 10 per cent upper circuit to Rs 71.90 per share from its previous closing of Rs 65.37. The stock’s 52-week high is Rs 84 and its 52-week low is Rs 56.48. The shares of the company saw a spurt in volume by more than 6 times on BSE.

HMA Agro Industries Limited is a food trade organisation for handling food and agro products, including frozen fresh buffalo meat, prepared/frozen natural products, vegetables, and cereals in India.

HMA Agro Industries Ltd. partnered with Maharashtra Food Processing & Cold Storage to expand its processing and packing abilities for frozen halal boneless buffalo meat, while earlier it strategically lowered their share price through dividends and a stock split from a face value of Rs 10 to Rs 1, to increase investor accessibility and position themselves for future market growth.

According to the standalone Quarterly Results, the net sales increased by 61 per cent to Rs 1,180 crore and the net profit increased by 15 per cent to Rs 38 crore in Q2FY24 compared to Q2FY23. According to the annual results, the net sales increased by 7 per cent to Rs 3,125.55 crore and the net profit increased by 24.46 per cent to Rs 137.32 crore in FY23 compared to FY22.

HMA Agro Industries Ltd has a market cap of over Rs 3,600 crore. The shares of the company have an ROE of 28.4 per cent and an ROCE of 24 per cent. The stock is up by 26.5 per cent from its 52-week low of Rs 56.48 per share. Investors should keep an eye on this Small-Cap stock.

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