Heavy buying witnessed in this multibagger penny stock; do you own it?

The scrip witnessed massive spurt in volume by more than 16 times

On Friday, shares of HT Media zoomed more than 17 per cent to trade at an intraday high and new 52-week high level of Rs 26.22 apiece on BSE.  The scrip witnessed massive spurt in volume by more than 16 times.

In the fourth quarter of FY23, HT Media's net revenue from operations amounted to Rs 441.4 crore, marking a growth of 4.87 per cent compared to Rs 420.9 crore in the previous year's same period. The company reported a total net loss of Rs 14.96 crore for the quarter, as opposed to Rs 16.72 crore in the corresponding period last year. For the entire financial year ending on March 31, 2023, the company recorded a total net loss (before taxation) of Rs 195.79 crore and Rs 227.29 crore (after taxation).

In the same fourth quarter, HT Media's revenue from the 'printing and publishing of newspapers and periodicals' reached Rs 373.85 crore, showing a growth of 4.7 per cent compared to Rs 357.05 crore in the previous year's corresponding period. Additionally, its revenue from radio broadcast and entertainment stood at Rs 36.29 crore, experiencing an 18.13 per cent growth compared to Rs 30.72 crore in the same period last year.

HT Media, also known as Hindustan Times Media Limited, is a leading Indian media company founded in 1924. It owns prominent newspapers like Hindustan Times and Hindustan, along with a digital news portal and a popular radio channel, Fever 104 FM. HT Media has diversified its media presence and continues to adapt to the changing media landscape.

The stock has witnessed significant buying activity as it has given multibagger returns of more than 100 per cent in just 3 years. Moreover, the stock has surged more than 45 per cent in just 3 months. Keep a close eye on this trending multibagger penny stock.

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