Debt-free penny stock under Rs 35 jumps over 14 per cent after announcing 2:1 stock split; Check record date inside
The stock is up by 48 per cent from its 52-week low of Rs 22 per share.
On Tuesday, shares of Julien Agro Infratech Limited gained 14.12 per cent to Rs 32.89 per share from its previous closing of Rs 28.82 per share. At the closing bell, shares of the company were trading at Rs 30.96 per share, up 7.43 per cent with a spurt in volume by more than 1.61 times on BSE. The stock’s 52-week high is Rs 34.63 and its 52-week low is Rs 22.20. The stock is up by 48 per cent from its 52-week low of Rs 22 per share.
The Board of Directors has fixed Monday, January 06, 2025, as the "Record Date" to determine the entitlement of Equity Shareholders for the sub-division/split of existing equity shares. Each Equity Share with a face value of Rs 10 will be sub-divided/split into a specific number of Equity Shares, each with a face value of Rs 5, subject to necessary approvals. This sub-division/split aims to increase the liquidity and affordability of the company's shares
Julien Agro Infratech Ltd, a company established in 1997, initially focused on land development, construction services, and related infrastructure projects. However, in FY23, the company shifted its business strategy to include the manufacturing and trading of agricultural products in India. This transition involved trading raw agricultural commodities, leading to a change in the company's name from Silverpoint Infratech Limited to Julien Agro Infratech Limited on August 25, 2023.
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Additionally, the company has achieved another significant milestone by securing an order for unbranded rice worth Rs 120 million, following an earlier order of Rs 75 million. This substantial addition to the company's portfolio, which has been specializing in agricultural products for the past two years, solidifies its position as a key player in the market. The company's expertise and ability to capitalize on market opportunities have been instrumental in securing these orders. The completion of the latest order by December 2024 is expected to contribute significantly to the company's revenue and overall financial performance, further driving business growth.
The company has a market cap of Rs 61.27 crore and as of September 2024, the company is debt-free. In FY24, the company reported net sales of Rs 21.35 crore and net profit of Rs 0.05 crore. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.