Multibagger penny stock below Rs 60: This micro-cap company receives new order worth Rs 28,00,000 from Butyl Reclaim Rubber!

The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 25 per share.

Lead Reclaim and Rubber Products Ltd informed that the company has participated in the “International Exhibition on Rubber Technology”, from September 04, 2023 to September 06, 2023 at Shanghai New International Expo Centre, China. A new order worth Rs 28,00,000 (Excl. of GST) has been received for Butyl Reclaim Rubber for reclaimed rubber.

Furthermore, the company expect the said contract to be received for each month for Butyl Reclaim Rubber in future.

Lead Reclaim and Rubber Products Limited provides rubber products. The Company manufactures reclaimed rubber, crumb rubber powder, and rubber granules. Lead Reclaim and Rubber Products serves customers in India.

The company has a market cap of Rs 37.8 crore. According to the half-year results (H2FY23), the company reported net sales of Rs 3.84 crore and net profit of Rs 0.34 crore. In annual results (FY23), the company reported net sales of Rs 8.76 crore and net profit of Rs 0.83 crore.

On October 06, 2023, the shares of the company ended the trading session in green, up 0.98 per cent to Rs 51.50 per share. The stock you are referring to is an SME stock, which means that it is traded on a separate exchange for small and medium-sized enterprises. SME stocks are typically less liquid than stocks on the main exchange, and they may not trade every day. The lot size is 1,200 shares.

Today, there are both buyers and sellers for the stock, but it has not traded yet. This is likely because there is not enough trading volume to meet the minimum requirements for the SME exchange.

The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 25 per share.

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