Stock below Rs 10: Keep an eye on this penny stock, which was locked in the upper circuit on November 28

Today, the stock of this company was locked at 20 per cent at Rs 1.20 per share.

One of the Top Gainers on the BSE today, shares of Maharashtra Corporation Ltd surged and reached an upper price band of Rs 1.20 per share, after being locked in the 20 per cent upper circuit. Additionally, the company's stock price has risen dramatically and has made consecutive upper circuits over the past trading sessions.    

The corporation didn't show strong figures in its quarterly and annual financial statements. The increase in share price was due to the substantial acquisition of shares and takeover by Mr. Ankit Mahendra Bhai Parlesha and hence is witnessing some fresh buying today. The company’s shareholding structure is as follows, with promoters owning 16.3 per cent of the company's shares and the general public owning 83.7 per cent. 

Incorporated in 1982, Maharashtra Corporation Limited is engaged in the business of investing, trading and distributing textiles products. Today, the shares of Maharashtra Corporation Ltd saw a spurt in volume by more than 12 times on BSE. 

The stock is up by 114.29 per cent in one year while BSE Sensex is up by 9.16 per cent in one year. Investors must keep this stock on their watch list.