Penny stock under Rs 5: Heavy buying, hits upper circuit today; Highest ever sales in Q3 FY24, Results expected tomorrow!

The company’s shares have delivered an impressive return of around 40 per cent in the past one year.

This micro-cap company operates in the stockbroking industry, offering a range of services including broking of shares and other securities, equity/commodity broking, financing, and related activities. With 224 business locations spread across India, including branches, franchisees, and sub-brokers, IGSL serves a wide clientele. Today the company saw a significant surge in its stock price. Inventure Growth & Securities Ltd (IGSL) was incorporated in 1995.

At the start of the day's trading session, the stock opened at Rs 2.65 per share, compared to the previous day's closing figure of Rs 2.45 per share on the NSE. The stock has reached the upper circuit price limit of 10 per share, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers. Finally, the stock closed the day at Rs 2.65 per share on the NSE. The company's current market capitalisation stands at Rs 221 crore, and the stock has generated an impressive return of around 40 per share in the past 1 year.

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As per Quarterly Results in Q3 FY24, the company reported a highest-ever quarterly revenue of Rs 48.81 crore compared to a revenue of Rs 12.93 crore, representing a gain of 277 per share YoY. The company’s operating profit reached Rs 7.25 crore compared to a profit of Rs 2.29 crore in Q3 FY23. The operating margin stood at 14.85 per share. The net profit of the company was Rs 2.26 crore in Q3 FY24 compared to a net profit of Rs 1.44 crore.

Turning your attention to the annual performance of the company, it reported a revenue of Rs 51 crore, compared to Rs 47 crore in FY22. The company reported an operating profit of Rs 15 crore. The company’s profit was Rs 9 crore in FY23. As per the press release the company will be announcing its Q4 as well as FY24 results tomorrow.

According to the shareholding pattern, the promoters of the company hold 26.40 per share while the remaining 73.60 per share is held by the public or retail investors.

Investors must keep this stock on their radar.

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