Dolly Khanna bought 3,47,035 shares and FIIs bought 11,006 of this multibagger penny stock under Rs 60; do you have it?

The stock gave multibagger returns of over 100 per cent in 2 years and a whopping 330 per cent in 3 years.

The Indian benchmark indices ended the trading session in red with BSE Sensex Index down by 0.38 per cent at 65,629.24. In parallel on the sectoral front Auto Index and Consumer Durables Index were the Top Gainers while the Metals Index and Oil & Gas Index were the Top Losers.

One multibagger penny stock was shining on the exchanges as an ace investor Dolly Khanna and Foreign Institution Investors (FIIs) took a fresh entry into this sugar stock.

Dolly Khanna bought 3,47,035 shares or 1.05 per stake and FIIs have bought 11,006 shares or 0.03 per cent stake in the company.

Revealing the name of a sugar stock is like unwrapping a sweet surprise. The stock name is RAJSHREE SUGARS & CHEMICALS LTD.

Rajshree Sugars & Chemicals Limited (RSCL) is one of the leading integrated sugar companies in India, with interests in sugar, distillery, power, and biotechnology. RSCL has three modern sugarcane-based integrated biorefinery complexes located at Varadaraj Nagar in Theni District, Mundiyampakkam in Villupuram District, and Gingee in Villupuram District of Tamil Nadu. The company has a total sugarcane crushing capacity of 40,000 tonnes per day (TPD). The company has a market cap of Rs 177 crore.

Quarterly Results: The net sales increased by 1.38 per cent to Rs 227.93 crore in Q1FY24 compared to Q1FY23. The company reported a turnaround story wherein it reported an operation profit of Rs 17.72 crore and a net profit of Rs 8.53 crore in Q1FY24 whereas an operating loss of Rs 1.03 crore and a net loss of Rs 11.41 crore in Q1FY23.

Annual Results: The net sales increased by 64 per cent to Rs 766.92 crore in FY23 compared to FY22. The company reported a net profit of Rs 8.97 crore in FY23 compared to a net loss of Rs 3.18 crore in FY22.

On Thursday, shares of RSCL plunged 3.25 per cent to Rs 53.34 per share from its previous closing of Rs 55.13. The stock traded at an intraday high of Rs 54.48 and an intraday low of Rs 52.38. The stock gave multibagger returns of over 100 per cent in 2 years and a whopping 330 per cent in 3 years.

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