Penny stock under Rs 20 rockets 40 per cent in just 2 trading sessions as the company executes a large order of supplying denims to Myntra

The stock is up 46.4 per cent from its 52-week low of Rs 13.25 per share.

On Tuesday, shares of Jiwanram Sheoduttrai Industries Limited hit a 20 per cent upper circuit to Rs 19.40 per share from its previous closing of Rs 14.25 per share. The stock’s 52-week high is Rs 30 and its 52-week low is Rs 13.25. The stock rocketed 40 per cent in just 2 trading sessions that is Monday, August 16, 2024 and Today, Tuesday, August 17, 2024,

announce that we have executed a large order of supplying denims to Myntra, one of the top e-commerce companies in India. Further, we are expecting a multi-fold volume purchase order from Myntra of types of denim, shirts, cargo pants, etc.

Jiwanram Sheoduttrai Industries Limited manufactures and exports industrial safety gloves and garments. The company offers head-to-toe safety wear, work wear, casual wear and personal protective equipment such as protective gloves, full-bodysuits, safety boots, elbow protectors, safety spectacles and welding shields. Jiwanram Sheoduttrai Industries serves customers worldwide.

The company has a market cap of Rs 48 crore and stock is trading at 0.64 times its book value. According to the annual results, the net sales increased by 1.72 per cent to Rs 43.05 crore and the net profit decreased by 56.6 per cent to Rs 1.75 crore in FY24 compared to FY23.

The shares of the company have PE of 20x whereas the industry PE is 31x. The stock is up 46.4 per cent from its 52-week low of Rs 13.25 per share. Investors should keep an eye on this micro-cap stock.

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

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