Only buyers seen in this stock trading below Rs 20, do you own it?
This stock experienced 14.13 times volume burst, indicating heavy buying pressure.
Shares of Sadbhav Engineering Ltd, climbed up by 20 per cent, thus locking in the upper circuit in Tuesday’s session. Major buying was seen in the last leg of the session. The stock experienced 14.13 times volume burst, indicating heavy buying pressure from this. Apart from this, the stock has also given the breakout, as seen on the charts. However, the stock is down by 51 per cent in six months and 65 per cent on YTD basis, majorly due to weak fundamentals of the company.
Sadbhav Engineering Ltd is primarily engaged in the business of development of Infrastructure, leasing bases, BOT and energy generation through wind power. The major clients of the company are Delhi Metro Rail, Coal India Ltd, Government of Odisha, NHAI, to name a few. For Q2FY23, revenue of the company stood at Rs 422 crore; whereas the company’s reported loss is Rs 373 crore.
Speculators, investors with high-risk appetite are betting on this stock due to a probable turnaround. Investors should keep an eye on this stock for upcoming sessions.