Keep an eye on this penny stock, which was locked in the upper circuit on December 05

Today, the stock of this company was locked at 20 per cent at Rs 5.88.

One of the Top Gainers on the BSE today, shares of Country Condo’s Ltd surged 20 per cent to reach the upper price band of Rs 5.88 per share. Furthermore, the company's stock has seen some positive attention, which has led to a sharp rise in price and back-to-back upper circuits throughout the recent trading sessions.    

On annual consolidated financial statements, the company continued to report a net profit of Rs 2.53 crore in FY23, up 439 per cent from Rs 0.47 crore in FY22. Thus, the increase in the stock price is primarily due to the company's excellent results in FY23 than in FY22 and hence it witnessed some fresh buying. As of Q2FY23, the shareholding pattern of the company is promoters holding 53.86 per cent and the public holding 46.14 per cent, respectively.  

Country Condos Ltd was founded in 1987 as Neocure Therapeutics Private Limited with the goal of manufacturing and selling pharmaceuticals and formulations. Since then, the company has diversified into the booming real estate business in India, particularly in Hyderabad and in 2006, the company changed its name to Country Condo's Limited. Today, shares of Country Condo’s Ltd saw a spurt in volume by more than 15 times on BSE. 

The stock is up by 42.68 per cent in just five days while BSE Sensex is up by 0.21 per cent in five days. Investors must keep this stock on their watch list.