Multibagger penny stock under Rs 1: This micro-cap reports a 125 per cent jump in revenue and net profit turnaround; scrip hit upper circuit & 52-week high!
The stock gave multibagger returns of 210 per cent in just 2 years and over 1,000 per cent in 3 years.
One of the Top Gainers on Wednesday, shares of NCL Research & Financial Services Ltd surged and reached an upper price band of Rs 0.77 per share, after being locked in the 10 per cent upper circuit from its previous closing of Rs 0.70. The stock also traded at a new 52-week high of Rs 0.77 per share with a spurt in volume by more than 1.11 times on BSE.
The company's stock price suddenly rose after it announced stellar Quarterly Results. The stock hit back-to-back upper circuits, indicating strong demand from investors. The net sales increased by 129.85 per cent to Rs 1.08 crore in Q1FY24 compared to Rs 0.47 crore in Q1FY23. The company reported a net profit of Rs 0.49 crore in Q1FY24 compared to a net loss of Rs 0.77 crore in Q1FY23.
According to the annual results, the net sales increased by 107.99 per cent to Rs 3.90 crore and net profit decreased by 42.28 per cent to Rs 0.60 crore in FY23 compared to FY22.
Incorporated in 1985, NCL Research and Financial Services Ltd is engaged in the business of finance and investments in the capital market. The company is a registered non-deposit non-banking financial corporation that offers financial services to MSMEs, SMEs, corporations, and individuals. The company also invests in equity in various companies.
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The company has a market cap of Rs 82.42 crore. The company has made significant progress in reducing its debt and is now nearly debt-free. The stock is trading at 0.67 times its book value of Rs 1.16 each.
The stock gave multibagger returns of 210 per cent in just 2 years and over 1,000 per cent in 3 years. 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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