Do you find returns of penny stocks attractive? Sharp move in this high-priced multibagger would compel you to go for this!
So, what has changed suddenly for this speciality chemical stock?
Double-digit gains returns in a matter of just a few trading sessions is a dream for any investors and especially, for the swing traders! Interestingly, despite the roller-coaster ride of the stock markets, the reality is that every now and then, Dalal Street throws up such opportunities.
One such stock that has lived up to this expectation does not belong to the universe of Penny Stocks, which are quite famous for such kind of mammoth moves in a quick span of time! In this article, we would discuss a pricey stock (high absolute value), which jumped nearly 39 per cent from its May 27 low and now, has reached fresh highs in just a matter of four trading sessions.
You must be eager to know, which stock we are talking about! Finally, we would reveal the name. It’s Fine Organic Industries. The stock has been rallying for the past four trading sessions with astonishing volume. Interestingly, over the last four trading sessions, the stock has registered over a 50-day average volume along with a positive close, which indicates buying interest in the stock.
So, what has changed suddenly for this speciality chemical stock? The answer is - its robust Q4 earnings!
The stock saw its PAT surging nearly four-fold to Rs 121.7 crore when compared with PAT of Rs 31.8 crore in Q4FY21. Meanwhile, in Q4FY22, the company’s revenue jumped nearly two-fold on a YoY basis to Rs 617 crore while EBITDA margins improved to 25.8 per cent from 15.1 per cent amid a shift in the product mix towards high-margin value-added products, new customers, and new approvals in Q4. Furthermore, the cherry on the top is that its board recommended a final dividend of Rs 9 per equity share for the financial year ended March 31, 2022.
The stock has zoomed over 500 per cent in the past five years while in the last one year, it has soared 68.39 per cent.