Penny Stock Under Rs 20: This Multibagger Steel Company's Stock Surges 10 per cent and Hits Upper Circuit Today, Stock Gains Over 190 per cent in Just 1 Year!
The company’s shares have delivered an impressive multibagger returns of over 190 per cent in just 1 year.
Incorporated in 1960, Zenith Steel Pipes & Industries Ltd specializes in the manufacturing and distribution of ERW (Electric Resistance Welded) and SAW (Submerged Arc Welded) pipes. The company manufactures a range of products including ERW Black and Hot Galvanized pipes with diameters ranging from ½ inch to 20 inches, as well as Spirally Welded Pipes (HSAW) from 18 inches to 100 inches OD (457 mm to 2540 mm OD). These pipes are extensively utilized for the bulk transportation of water. Today the company saw a significant spike in both the share price and volumes in today.
At the start of the day's trading session, the share of Zenith Steel Pipes & Industries Ltd opened at Rs 11.40 per share, compared to the previous day's closing figure of Rs 10.51 per share on the BSE. Currently, the shares are at Rs 11.56 per share on the BSE. The stock has attracted a heavy volume today, reflecting strong demand in the market. The current market capitalization of Zenith Steel Pipes & Industries Ltd stands at Rs 164.48 crore, and the stock has generated an impressive multibagger return of around 185 per cent in just 1 year.
Financial Performance
As per the Quarterly Results, in the fourth quarter of FY24, Zenith Steel Pipes & Industries Ltd recorded a revenue of Rs 43.06 crore. The operating profit for Q4 FY24 stood at Rs 6.73 crore. The net profit for Q4 FY24 was Rs 9.87 crore. Looking at the annual performance, the company generated a revenue of Rs 143 crore in FY24, compared to Rs 165 crore in FY23. The net loss for FY24 was Rs 1 crore.
Regarding the shareholding pattern, the promoters own 15.64 per cent of the company and the public or retail investors hold 84.29 per cent. FIIs holds 0.08 per cent.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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